REG-Malibu Life Holdings Limited: Malibu Life Enters into Agreement to Acquire TruSpire

Third Point InvestorsAnnouncement

14/10/2025 07:02

14 October 2025

Malibu Life Holdings Limited

Malibu Life Accelerates its Business Plan to Enter the Direct Annuity
Origination Market with the Acquisition of TruSpire

One month after its re-launch as an insurance holding company, Malibu Life
Holdings Limited (“Malibu Life” or the “Company”) announced today that
it has entered into a definitive agreement to acquire TruSpire Retirement
Insurance Company (“TruSpire”). The acquisition will enable Malibu Life to
enter the direct annuity issuance business as early as the first half of 2026.
TruSpire, a wholly-owned subsidiary of Mutual of America Life Insurance
Company, is a Texas-domiciled provider of life and retirement solutions.

TruSpire is licensed in 44 states, has an AM Best B++ rating, an approved
Fixed Indexed Annuity (“FIA”) product, and broad distribution access
through the independent agent channel. TruSpire’s initial FIA product is
anticipated to be on the market in H1 2026, and Malibu Life expects to
leverage the platform to bring online additional FIA and multi-year guaranteed
annuity products in 2027 and beyond. The acquisition of TruSpire also includes
a Bermuda-regulated reinsurer, which Malibu Life intends to maintain for
future growth.

“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” said Daniel S. Loeb, Founder of Malibu Life and CEO of Third Point
LLC.

“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.” said Gary
Dombowsky, Chief Executive Officer of Malibu Life.

Listed on the London Stock Exchange, Malibu Life is an annuity reinsurance
platform focused on predictable liabilities within the estimated $1 trillion
and growing fixed annuity market in the United States. Malibu Life is
targeting rapid growth in annual premiums and mid-teens return on equity
through the combination of a robust, spread-based business model, a highly
scalable and efficient operating platform, and its investment management
partnership with Third Point, whose proven historical track record of
generating superior risk-adjusted returns should enable Malibu Life to offer
more competitive treaty terms and profitability relative to its peers.

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.

For further information, please contact:

Jefferies International Limited

 Stuart Klein / Carlos Marque  +44 20 7029 8600  

 

Kekst CNC (PR Adviser to the Company)

 Richard Campbell  Guy Bates  +44 7775 784 933  +44 7581 056 415  

 

This announcement is being made on behalf of the Company by Gary Dombowsky,
Chief Executive Officer of the Company.

Disclaimer

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. The information in this
announcement is subject to change.

This announcement has been prepared in accordance with English law, the UK
Market Abuse Regulation and the Disclosure Guidance and Transparency Rules and
UK Listing Rules of the FCA. Information disclosed may not be the same as that
which would have been prepared in accordance with the laws of jurisdictions
outside England.

Forward-looking statements

Certain statements, opinions and/or projections in this announcement are
forward-looking statements. In some cases, these forward looking statements
can be identified by the use of forward looking terminology including terms
such as “expects”, “anticipates”, “targets”, “continues”,
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“believes”, “may”, “will”, “should”, “would”, “could”,
“outlook”, “forecast”, “plan”, “goal” and similar expressions
or in each case, their negative, or other variations or comparable
terminology, but are not the exclusive means of identifying such statements.
Any statements that are not statements of historical facts are forward-looking
statements. These forward-looking statements reflect the Company’s current
expectations concerning future events and speak only as of the date of this
announcement. They involve various risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Company, the Company’s group, third parties or the industry to be materially
different from any future results, performance or achievements expressed or
implied by such forward looking statements. There can be no assurance that the
results and events contemplated by forward-looking statements will in fact
occur. No statement in this announcement is intended to be a profit forecast.

The forward-looking statements speak only as at the date of this announcement.
Save as required by the UK Market Abuse Regulation or the Disclosure Guidance
and Transparency Rules or the requirements of the UK Listing Rules of the FCA,
or otherwise arising as a matter of law or regulation, the Company expressly
disclaims any obligation or undertaking to disseminate after publication of
this announcement any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statement is based.

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other website) is incorporated into, or forms part of, this announcement.



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