Malibu Life enters agreement to acquire life and retirement solutions provider TruSpire

Malibu Life Holdings Limited has entered into a definitive agreement to acquire TruSpire Retirement Insurance Company, a Texas-domiciled provider of life and retirement solutions, and wholly-owned subsidiary of Mutual of America Life Insurance Company.

According to Malibu Life, its acquisition of TruSpire, which is licensed in 44 states, holds an AM Best B++ rating, offers an approved Fixed Indexed Annuity product, and maintains broad distribution through the independent agent channel, will enable the company to enter the direct annuity issuance business as early as the first half of 2026.

The acquisition of TruSpire also reportedly includes a Bermuda-regulated reinsurer, which Malibu Life intends to maintain for future growth.

The base purchase price for the acquisition, which is expected to close early in 2026 following regulatory approval and satisfaction of customary closing conditions, is $45 million.

Daniel S. Loeb, Founder of Malibu Life and CEO of Third Point LLC, commented, “The acquisition of TruSpire meaningfully accelerates our growth plan and offers an opportunity to design annuity products that will allow Malibu Life to fully benefit from Third Point’s robust credit asset management platform.”

Gary Dombowsky, Chief Executive Officer of Malibu Life, noted, “By adding TruSpire’s direct origination capabilities, we are advancing a cornerstone of our business strategy and materially accelerating our path to achieving scale.

“The acquisition will ensure greater control over policy pricing and terms and help drive enhanced investment returns. As an FHLB member, TruSpire also provides access to greater capital flexibility.

“In addition, the TruSpire team brings talent and experience across product and operations, and we look forward to welcoming them to Malibu Life.”