Dan Loeb Wins Vote to Turn London-Listed Fund Into Reinsurer
Dan Loeb has won a vote to turn his UK investment trust into a life and annuity reinsurance company, defying a fierce backlash from some shareholders.
A majority of investors backed a plan for London-listed Third Point Investors Ltd. to acquire Cayman Islands-based Malibu Life Reinsurance, according to a statement Thursday. The British trust’s previous purpose was to invest in Loeb’s hedge fund Third Point LLC.