AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of TruSpire Retirement Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of TruSpire Retirement Insurance Company (TruSpire) (Irving, TX, with administrative offices in Stamford, CT). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect TruSpire’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The ratings reflect the recent closing of the acquisition of TruSpire by Malibu Life Holdings Limited (MLHL) in early July for $45 million. Following the acquisition, TruSpire was rebranded as Malibu Life USA. TruSpire has been mostly dormant with some run-off life/annuity business for the past few years. TruSpire has maintained the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which has been sufficient to support its legacy business. The balance sheet is expected to be supported by MLHL, its parent company, with capital contributions necessary to support the growing business and additional liquidity needs.

TruSpire’s operating earnings remain adequate, as the company manages its legacy run-off block. The company expects to launch its new fixed annuity products in September 2026, which will impact future results and the overall existing business profile. AM Best will continue to monitor the results and the execution of the company’s business plan.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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