Third Point Ventures completed the acquisition of Malibu Life Reinsurance for $75m.

Third Point Ventures, a venture capital arm, completed the acquisition of Malibu Life Reinsurance, a licensed life and annuity reinsurer, 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.