In a bold move to deepen its footprint in the American insurance industry, Malibu Life Holdings Ltd. announced Tuesday that it will acquire TruSpire Retirement Insurance Co. from Mutual of America Life Insurance Co. for $45 million, marking its formal entry into the U.S. direct annuity issuance market.
The acquisition, outlined in a definitive agreement, positions Malibu Life — a London Stock Exchange–listed annuity reinsurer based in the Cayman Islands — to expand its influence in the North American insurance landscape and diversify its global portfolio.
A Strategic Step Into the Annuity Business
TruSpire, headquartered in Texas, is licensed in 44 states and offers life insurance and retirement products. The company recently developed a fixed-indexed annuity product, designed to generate returns linked to market index performance. Malibu Life said the product is expected to launch in the first half of 2026, with plans to enhance and expand the product suite for U.S. consumers.
The deal also includes the acquisition of a Bermuda-regulated reinsurer, whose name was not disclosed. Malibu Life said the move would strengthen its control over policy pricing and terms while boosting investment returns.
“This transaction meaningfully accelerates our growth plan and gives us the ability to design annuity products that respond directly to market needs,” said Daniel Loeb, Malibu Life’s founder and hedge fund titan behind Third Point Investors Ltd.
