Malibu Life Holdings Limited, a London Stock Exchange-listed insurance holding company focused on the U.S. retirement and annuity market, has completed its acquisition of TruSpire Retirement Insurance Company, which will be rebranded as Malibu Life USA.
The acquisition was initially announced in October 2025, with Malibu Life entering into a definitive agreement to acquire TruSpire.
TruSpire (now Malibu Life USA) is a U.S.-domiciled life and retirement insurance company focused on the retail annuity market. The business brings broad state licensing, an approved fixed indexed annuity product, and access to the independent agent distribution channel.
The transaction represents a significant milestone in Malibu Life’s transformation into a scaled, vertically integrated insurance platform and establishes Malibu Life USA as its U.S. retail annuity origination engine. Malibu Life USA’s inaugural product launch is targeted for early to mid-September.
Following completion, Malibu Life USA will operate as the company’s U.S. retail brand, while the broader insurance strategy will continue to include reinsurance capabilities through its Cayman and Bermuda platforms. Together, these entities are intended to provide multiple complementary channels for originating and managing long-dated insurance liabilities.
The acquired platform also includes a Bermuda-regulated reinsurer, which Malibu Life intends to retain for future growth. The structure is expected to support its expansion plans and provide additional flexibility as it scales origination, reinsurance and capital management capabilities across its U.S., Cayman and Bermuda platforms.
The acquisition is expected to accelerate Malibu Life’s strategic plan by adding direct issuance capabilities alongside its existing reinsurance platform.
Through the combination of Malibu Life USA’s U.S. origination capabilities with Malibu Life’s capital management discipline and Third Point’s institutional credit investment platform, the company is well positioned to build a differentiated annuity franchise focused on attractive spread income, prudent risk management and long-term book value.
The transaction follows the appointment of key industry veterans, including Todd Shriber as incoming CEO and Robert Pavleszek as Chief Operating Officer, as Malibu Life builds the operating infrastructure and execution capabilities needed to support accelerated growth.
“This is a defining moment for Malibu Life,” said current CEO Gary Dombowsky. “I am especially pleased to have completed this acquisition ahead of my retirement on July 20th, leaving Todd Shriber, our incoming Chief Executive Officer, with a platform that is well positioned to scale. With the Malibu Life USA brand now in place, we are moving decisively from strategy into execution, supported by the operating platform, distribution access, regulatory footprint and product capabilities needed to establish Malibu USA as a powerful growth engine and an important new entrant in the retail annuity market.”
“Today’s closing gives Malibu Life the foundation to scale,” added Dimitri Goulandris, Chairman of Malibu Life Holdings. “We have been deliberate in building the right structure, the right team and the right asset-liability framework.”
“With Malibu Life USA now part of the platform, we believe we have the tools to execute with speed, discipline and ambition,” said Simpa Baiye, President of TruSpire. “We are excited to introduce Malibu USA to agents, policyholders and the broader retirement market in September.”
