Third Point to acquire Malibu Life Reinsurance for $75m.

Third Point, a hedge fund, offered to acquire Malibu Life Reinsurance, an established reinsurance platform focused on the US fixed annuity market, for $75m. "We are delighted to announce the proposed acquisition of Malibu. This is an innovative and transformational transaction that solves the structural headwinds impacting the investment trust sector to deliver a unique proposition for shareholders," Rupert Dorey, Third Point Investors Chairman.