Malibu Life Acquires TruSpire for U.S. Direct Annuity Market Entry

Malibu Life Holdings Ltd., a London Stock Exchange-listed annuity reinsurer based in the Cayman Islands, is acquiring TruSpire Retirement Insurance Co. from Mutual of America Life Insurance Co. for $45 million. This acquisition marks Malibu Life's entry into the U.S. direct annuity issuance market and expands its presence in North America.

TruSpire, headquartered in Texas and licensed in 44 states, offers life insurance and retirement products, including a newly developed fixed-indexed annuity product set to launch in early 2026. The transaction also includes an acquisition of a Bermuda-regulated reinsurer, enhancing Malibu Life's control over policy pricing and investment returns.

This strategic move allows Malibu Life to accelerate growth plans, design annuity products tailored to market needs, and diversify its global insurance portfolio, positioning the company for expanded influence in the U.S. insurance industry.