Daniel Loeb’s Third Point Investors in deal to create London-listed insurer

Billionaire activist Daniel Loeb’s Third Point Investors Limited (TPIL) plans to acquire Malibu Life Reinsurance in an all-share deal valued at approximately $68 million, marking the first new London-listed insurer since 2020. The proposed reverse takeover has faced opposition from Asset Value Investors Limited, which criticized the governance of Third Point Investors. Conversely, Saba Capital Management supports the transaction, highlighting the board’s response to challenges within the UK investment trust market.