Licensed life and annuity reinsurer based in the Cayman Islands.
The deal accelerates Malibu's plan to combine direct annuity issuance with its existing reinsurance platform and institutional asset management capabilities.
Malibu Life plans to accelerate growth in reinsurance while expanding into US direct annuity origination through its partnership with Third Point LLC.
Malibu Life Re will focus on providing asset-intensive reinsurance solutions and has entered into a treaty with a leading US annuity provider.