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Third Point completes acquisition of Malibu Life Re

09/12/2025 by Linda

Third Point Investors Limited (TPIL) has completed the previously announced acquisition of 100% of the equity interests in Malibu Life Reinsurance SPC, a Cayman Islands-based life and annuity reinsurance platform, from Malibu Life Holdings LLC.

malibu life re third point logosMalibu Life Reinsurance SPC (Malibu Life Re) was launched by Third Point in May 2024. The intention for this acquisition and the subsequent transition of Malibu Life Re into a London listed reinsurance platform was previously announced by Third Point in May 2025.

The admission of 21,426,808 ordinary shares to the ESCC Category to trade on the Main Market for listed securities of the London Stock Exchange is expected this morning.

Following the company’s announcement dated September 11th, 2025, it has issued 1,868,805 ordinary shares (being the relevant consideration shares, representing approximately 95% of the consideration shares) to Malibu Life Holdings LLC in consideration for the acquisition.

Right after the admission, Third Point will have 21,426,808 ordinary shares in issue and admitted to trading on the main market, and its issued share capital will be $21,426,808 ordinary shares with one vote per share; and $8,570,724 B Shares with one vote per share. This takes the total number of voting rights in TPIL immediately following admission to 29,997,532.

Brit Re - Experienced underwriting backed by strong capital

Additionally, according to the Redemption Offer, TPIL expects to redeem 4,376,750 ordinary shares on September 19th, 2025. After this, the company will have 17,050,058 ordinary shares admitted to trading on the main market.

Dimitri Goulandris, Chair, TPIL, commented, “Today is an important and exciting milestone as TPIL completes the acquisition of Malibu Life, to create a fully capitalised, reinsurance operating company. The Board is delighted to bring the company to the London market, where Malibu offers investors a unique and attractive opportunity to access the $1 trillion and growing fixed annuity market in the United States, through an established reinsurance platform with an experienced and capable management team.

“With the strategic transformation complete, the focus is on disciplined execution of the business plan which projects growth driven by the signing of further annuity reinsurance contracts as well as building in-house origination capabilities. The Company targets approximately $5 billion in annual premium income and annual returns in the mid-teens by the end of 2027. The management team has already identified a strong pipeline of growth opportunities, and we look forward to keeping the market updated as we scale the business through this exciting phase of development.”

He continued, “The Board strongly believes these initiatives will, over time, generate superior risk-adjusted returns by positioning the Company to capitalise on compelling economic and demographic tailwinds in the U.S. insurance and reinsurance market. Along with the management team, we are highly motivated to deliver on the substantial opportunity ahead.”

The post Third Point completes acquisition of Malibu Life Re appeared first on ReinsuranceNe.ws.

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