May 2024
Conyers has assisted New York based alternative asset manager Third Point LLC with launching and licensing a new life and annuity reinsurer based in the Cayman Islands, Malibu Life Reinsurance SPC (Malibu Life Re).
Malibu Life Re is licenced as a Class B(iii) Cayman Islands-based reinsurer wholly owned by Third Point LLC and its affiliates. Malibu Life Re will provide reinsurance to major life and annuity providers, with an initial US$3 billion annuity treaty already entered into with a leading U.S. annuity provider and additional counterparty cedants are expected to be sourced over time. For more information, please see the company’s press release.
Conyers Partner Derek Stenson and Associate Frank Farrell worked alongside Debevoise & Plimpton LLP.