KBRA assigns A- rating to TruSpire as Malibu Life builds U.S. annuity platform
TruSpire Retirement Insurance Company is moving from managing a legacy run-off block toward a broader retail annuity strategy under new ownership. The insurer receives an A- insurance financial strength rating with a stable outlook as it prepares to scale new U.S. individual annuity business.
Highlights
- KBRA assigns TruSpire an A- insurance financial strength rating, reflecting strong capitalization, conservative investments, and support from parent Malibu Life Holdings Limited.
- TruSpire reported $15.3 million capital and surplus and a 1,289% CAL RBC ratio at year-end 2025, decreasing to $14.1 million by March 31, 2026.
- Malibu Life Holdings must restore TruSpire's CAL RBC ratio to at least 400% if breached, as TruSpire advances U.S. annuity platform launch and integration.
Rating rationale and capital position
As reported by Kroll Bond Rating Agency, the A- insurance financial strength rating reflects TruSpire's current capitalization, liquid and conservative investment portfolio, legacy asset adequacy results, and risk governance framework. KBRA also cites support from indirect parent Malibu Life Holdings Limited, and TruSpire's role as that group's U.S. retail annuity platform.At year-end 2025, TruSpire reports $15.3 million of capital and surplus and a company action level risk-based capital ratio of about 1,289%. As of March 31, 2026, capital and surplus total $14.1 million, while the company's framework targets a CAL RBC ratio of at least 400% as new annuity business scales.
An executed capital support agreement requires MLHL to restore the CAL RBC ratio to at least 400% if it falls below that level at any quarter end, subject to legal, regulatory, liquidity, and contractual limits. The insurer has completed or advanced work on product design, pricing, filings, distribution, technology, and hedging ahead of a planned launch, but KBRA says execution still depends on successful integration and operating performance as production begins.
Our earlier report on AM Best’s negative outlook revision for Safety Insurance Group explained that the insurer’s ratings were affirmed but its outlook was cut from stable due to continued underwriting pressure. We noted that higher loss severity, weather-related events, and the impact of new business weighed on results through H1 2026, even as the group maintained strong risk-adjusted capitalization, liquidity, and a solid market position in Massachusetts.
Latest DBRS News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
