Malibu Life Holdings Limited, a London Stock Exchange-listed insurance holding company focused on the U.S. retirement and annuity market, has completed the acquisition of TruSpire Retirement Insurance Company, which will be renamed Malibu Life USA.
The acquisition was initially announced in October 2025, when Malibu Life signed a definitive agreement to acquire TruSpire.
TruSpire (now Malibu Life USA) is a U.S.-registered life and retirement insurance company focused on the retail annuity market. The business has a broad range of state-licensed, approved fixed index annuity products and independent agent distribution channels.
This transaction is an important 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 first product launch is planned for early to mid-September.
Upon 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 designed to provide multiple, complementary channels for originating and managing long-term 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 expands origination, reinsurance and capital management capabilities across its U.S., Cayman and Bermuda platforms.
The acquisition is expected to accelerate Malibu Life’s strategic initiatives by adding direct issuance capabilities to its existing reinsurance platform.
By combining 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 business 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 particularly pleased to have completed this acquisition prior to his retirement on July 20, leaving our incoming CEO Todd Shriber with a platform well-positioned to scale. We are moving decisively from strategy to execution as the Malibu Life USA brand is established, supported by the operating platform, distribution channels, regulatory footprint and product capabilities to build Malibu USA into a powerful growth engine and significant new entrant in the retail annuity market.”
“Today’s closing sets the stage for Malibu Life’s expansion,” added Dimitri Goulandris, chairman of Malibu Life Holdings. “We have been very intentional about building the right structure, the right team and the right balance sheet.”
“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.”
