Lee Harris
@leeharris.ft.com
đ€ 1589
đ„ 213
đ 77
Journalist at the Financial Times Contact:
[email protected]
reposted by
Lee Harris
Josh Spero
9 days ago
Iâm quite proud of this one, it feels like the concentrated essence of a wealth story â>
on.ft.com/4nJf9DW
Private jet owners rent out aircraft engines amid supply crunch
loading . . .
Private jet owners rent out aircraft engines amid supply crunch
[FREE TO READ] Some travellers prefer to borrow engines to use with their own customised jets
https://on.ft.com/4nJf9DW
4
19
5
The insurance industry has stepped up efforts to limit future payouts over for petrochemical disasters, following a record judgment by Sri Lankaâs supreme court over the worldâs biggest recorded plastic spill.
on.ft.com/4n49rvU
26 days ago
0
47
23
reposted by
Lee Harris
Ian Smith
about 1 month ago
Credit insurance is back in the spotlight â my personal fomo. scoop from
@leeharris.ft.com
@bondhack.ft.com
www.ft.com/content/de37...
loading . . .
Insurers prepare for wave of First Brands claims
Allianz, Coface and AIG among groups to have written credit insurance policies linked to bankrupt car parts maker
https://www.ft.com/content/de377455-3b5e-4da4-ba3a-ac8b03dcde09
0
10
3
âItâs like when they took away free bags on airlines â it took a number of years for customers to accept itâ. How US home insurers have changed the fine print on policies, paring back their losses & boosting a recent jump in profits
on.ft.com/4872W7M
loading . . .
Home insurersâ latest trick: stealth increasing your deductible
[FREE TO READ] Millions of Americans are being hit by tighter policy terms from groups including Progressive, State Farm and Travelers
https://on.ft.com/4872W7M
about 1 month ago
0
2
2
reposted by
Lee Harris
Joseph Cotterill
about 1 month ago
Speaking of throwing good money after bad, here's one I did earlier on why the US backstop for Argentina is really an IMF backstop for Argentina, when 46% of total IMF GRA credit outstanding is already, well, Argentina.
www.ft.com/content/75d6...
loading . . .
US lifeline for Argentina relies on IMF backstop, say analysts
Trump administrationâs $20bn swap line threatens to load even more debt on to struggling South American country
https://www.ft.com/content/75d64509-a91e-48b1-8ffa-dd08209b3926
0
2
2
reposted by
Lee Harris
Ian Smith
about 1 month ago
49. textbook stuff here, nice work everyone
@leeharris.ft.com
on the weird and wonderful world of cyber insurance. as usual, even if you have it, you may not have it
www.ft.com/content/84da...
0
4
1
reposted by
Lee Harris
Joseph Cotterill
2 months ago
âSouth Korean companies have routinely used unsuitable visas for workers sent to the US to build multibillion-dollar advanced manufacturing sites, according to Seoul-based executives and industry groups,â as the US failed to facilitate short-term work visas despite a FTA.
www.ft.com/content/c677...
loading . . .
Korean companies admit cutting corners on US visas but say they have little choice
US is âtwo-facedâ in pushing Korea to complete multibillion dollar projects on time but refusing to facilitate necessary work documents
https://www.ft.com/content/c677b9aa-2e89-4feb-a56f-f3c8452b3674
1
4
1
reposted by
Lee Harris
Robin Wigglesworth
about 2 months ago
âItâs a way for insurers to monetise good credit ratings.â đ
on.ft.com/46CguXE
loading . . .
The niche debt tool at the heart of Apolloâs private credit machine
How Apolloâs in-house insurer has raised capital to fund the groupâs lending, without turning to policyholders
https://on.ft.com/46CguXE
3
13
5
The worldâs biggest reinsurer has warned that the growth of private investment in cat bonds could raise volatility in insurance markets, if hedge funds + other private investors suddenly pulled out. My story:
on.ft.com/47piXpb
2 months ago
1
9
3
reposted by
Lee Harris
Todd Tucker
3 months ago
On the fight for easier access to CATASTROPHE BONDS! It's 2025: Bet on natural disasters for your retirement security. From
@leeharris.ft.com
@emdunks.bsky.social
.
www.ft.com/content/82c7...
loading . . .
Retail investors fight for right to bet on natural disasters
Asset managers push back against an EU attempt to curb access to fast-growing market for catastrophe bonds
https://www.ft.com/content/82c7bf49-7a51-4d83-97bc-0cb377950a53
2
24
14
reposted by
Lee Harris
Kyle Chayka
3 months ago
the details about the Wong Kar Wai /Christopher Doyle inspo and the naturalistic sound editing are so fascinating
add a skeleton here at some point
1
13
4
Apollo has hit back against criticism of the close ties between its asset management arm and in-house insurer in an investor filing that instead points the finger at its chief rivals. Story:
on.ft.com/3Uuo8g1
loading . . .
Apolloâs insurer points finger at rivals over potential conflicts
[FREE TO READ] US life insurersâ related party assets have come under scrutiny as private equity has piled into the sector
https://on.ft.com/3Uuo8g1
3 months ago
0
2
2
Credit insurance once meant a policy that would pay out if a banana shipment didnât show up. It has come to mean whizzy financial engineering, from shifting capital off banks' balance sheets to helping startups raise cash. New lawsuit sheds some light:
www.ft.com/content/8891...
loading . . .
Aon sued for alleged fraud linked to credit insurance for start-ups
Lawsuit representing AI business Vesttoo sheds light on push by insurance broker into growing market
https://www.ft.com/content/88914043-4067-4227-ac77-d66a65c4df69
3 months ago
0
1
0
Interesting new study from NY Fed compares how lenders treat unmapped flood risk (due to FEMAâs outdated maps). Big banks are lending less and charging more in risky areas. Non-banks and local banks are still originating the loans but then securitizing or moving them off their balance sheet
3 months ago
1
4
2
reposted by
Lee Harris
Ian Smith
3 months ago
Brookfield's way in to the UK retirement market: start a new insurer AND buy one Also, after Apollo's Athora/PIC, the North American private capital groups are really in town... to invest your pension
@leeharris.ft.com
reports
www.ft.com/content/f460...
loading . . .
Brookfield strikes ÂŁ2.4bn deal to buy London-listed insurer Just Group
Chancellor Rachel Reeves welcomes deal amid concerns over UK stock market departures
https://www.ft.com/content/f460364a-1c87-4b93-8a02-ea76640a607d
0
2
1
A senior industry figure has accused asset managers of chasing fees at insurersâ expense, as he launches a contrarian fund he says will do things differently:
on.ft.com/44FFoop
loading . . .
Insurance veteran launches fund to combat asset managers chasing fees at insurersâ expense
[FREE TO READ] Former American Equity Insurance Life boss Anant Bhalla launches private assets investment fund with different fee model
https://on.ft.com/44FFoop
4 months ago
0
2
1
Sat down with the new boss of Flood Re to discuss his concerns that the national flood reinsurer is not on track to wind down by its deadline â and why, despite recently issuing a catastrophe bond, he is pricing in stubbornly high reinsurance costs:
on.ft.com/3IFcUmg
loading . . .
Investors hitting âlimitâ for insuring against UK floods, warns Flood Re chief
[FREE TO READ] CEO of reinsurer says exposure to risks is now âworseâ than when the scheme started in 2016
https://on.ft.com/3IFcUmg
4 months ago
0
8
7
reposted by
Lee Harris
Ian Smith
5 months ago
âIt wonât be a question of how much youâre willing to pay â the cover wonât be available" Everest CEO Jim Williamson speaking to me at this year's FT Global Insurance Summit about a creaking US casualty insurance market Important story from
@leeharris.ft.com
www.ft.com/content/5ff1...
loading . . .
US liability insurance on verge of âbreakdownâ from tide of claims
Insurers say companies could struggle to obtain cover for harms to workers and consumers
https://www.ft.com/content/5ff149b1-47bd-44b0-89a9-e1a9aee142a5
1
7
2
NEW: The boss of the worldâs biggest litigation funder has accused Chubb of abusing its market power, after the insurer said it would freeze out lawyers, bankers and asset managers who worked with the sector
6 months ago
1
1
0
>Insurance regulator: Small credit rating agencies like Kroll are giving higher scores to private credit, vs bigger groups like Fitch >Fitch calls attention to this >Regulator retracts the study >JPM note warns of âpotential ratings inflationâ in private credit đ
6 months ago
1
3
0
reposted by
Lee Harris
Emma Dunkley
6 months ago
Excl: L&G, one of Europeâs largest asset managers, is merging divisions and cutting jobs in an attempt to slash costs and focus on faster-growing markets
www.ft.com/content/7df4...
with
@leeharris.ft.com
loading . . .
Legal & General merges divisions and cuts jobs across asset management
Move comes amid FTSE 100 companyâs wider restructuring in push to acquire more private assets
https://www.ft.com/content/7df48335-75ea-4383-9b30-f4099ddd3efa
0
2
1
reposted by
Lee Harris
Ian Smith
6 months ago
US friends, $1tn of your life and annuity liabilities have been offshored through reinsurance deals, assets going too. This is a lot. Important story from
@leeharris.ft.com
www.ft.com/content/d0a5...
loading . . .
US life insurersâ offshore reinsurance liabilities breach $1tn
More than $130bn of liabilities offloaded in 2024 despite regulatory concerns
https://www.ft.com/content/d0a54b0d-287b-4209-be09-24086c99aba5
2
5
2
NEW: US life insurers have shifted more than $1 trillion of liabilities offshore, offloading more risk despite regulatorsâ concerns about protections for retirement savings and broader financial stability.
6 months ago
2
6
8
reposted by
Lee Harris
Pete Sikora
7 months ago
Hey, cool! Iâm quoted in the pink pages of the financial times commenting on NYCâs major climate action today, which
@nychange.bsky.social
helped win!
1
18
6
Why do car insurers ask not once, but twice, if you want to pay in monthly installments? Insurers are using preference for monthly payments as a proxy for creditworthiness, and quoting those customers higher premiumsâeven before adding double-digit APR. Free to read:
www.ft.com/content/21c1...
loading . . .
Hidden âdouble dipâ charges hit UK car insurance customers on monthly contracts
Regulator probing whether âpremium financeâ unfairly treats policyholders who do not pay upfront
https://www.ft.com/content/21c1a4e9-0525-481f-82f8-c7523d417b24
8 months ago
0
0
0
reposted by
Lee Harris
Robert Smith
8 months ago
âAs for Saylorâs investment advice, on January 20 2025, he tweeted, âSell your kidney if you must, but keep the bitcoin.â Had one followed that guidance, the result would be a mark-to-market drop of 20% in investment value and a realised loss of a critical organ.â
on.ft.com/3XTqC9D
loading . . .
Saylorâs Strategy: buy higher, pump harder
Bitcoinâs chief hype-man is testing the boundaries of public markets regulation
https://on.ft.com/3XTqC9D
3
43
8
Insurers warn that mass firings at NASA, the US Geological Survey and other science agencies could threaten the public weather and geospatial data they use to manage natural disaster risks â and could raise prices for consumers:
on.ft.com/3DI4Q1K
loading . . .
Insurers warn that US weather agency mass firings will hit climate risk data
[FREE TO READ] Reinsurance trade group appeals to US commerce secretary Lutnick to preserve data collection after thousands of jobs axed
https://on.ft.com/3DI4Q1K
8 months ago
6
261
128
The price of insurance for political violence and terror is set to rise, due to Trump volatility and conflict beyond the US, according to the CFO of Lloyd's of London. Plus, underwriting profits at the marketplace slide after big catastrophes in 2024:
on.ft.com/41ErvE1
loading . . .
Lloydâs of London forecasts $2.3bn losses from LA wildfires
[FREE TO READ] Commercial insurance prices likely to remain high because of natural disasters and geopolitical risk, says marketplace
https://on.ft.com/41ErvE1
8 months ago
0
7
4
reposted by
Lee Harris
Katie Martin
8 months ago
"Heaven help the US arms industry. This is catastrophic from an export standpoint.â
#FAFO
add a skeleton here at some point
8
161
50
reposted by
Lee Harris
Janine Gibson
8 months ago
Many people - some of them on this website - have bemoaned how expensive an FT subscription is, ignoring the fact you can simply buy the finest Weekend paper for ÂŁ5 a week. HOWEVER we have listened! And FT Edit - an app which costs ÂŁ5 A MONTH with 8 new reads a day - will include Jay's reviews!
add a skeleton here at some point
36
259
70
Nuclear power for developing countries is MAGA? Top lawmakers are pushing the World Bank to drop an old ban on nuclear energy and help the US compete with China and Russia on exporting and financing nuclear technology
on.ft.com/4if2SVD
loading . . .
US makes fresh push for World Bank to back nuclear power
[FREE TO READ] New administration wants Washington-based multilateral lender to help the west compete with China and Russia
https://on.ft.com/4if2SVD
8 months ago
1
2
0
US juries are awarding record damages for trade secrets & patent infringement, part of a trend of mega-verdicts that has alarmed corporate executives and the insurers that foot their bills:
on.ft.com/4i2b3oc
loading . . .
Companies paid out more than $40bn in damages from US lawsuits last year
[FREE TO READ] Awards against tech groups Microsoft, Amazon and Micron fuel phenomenon known as ânuclear verdictsâ
https://on.ft.com/4i2b3oc
8 months ago
0
9
6
Englandâs Court of Appeal will today hear a challenge brought by businesses that were forced to close during the pandemic over whether insurers can deduct government unemployment benefits from payouts:
on.ft.com/3EfaI2q
loading . . .
Insurers in court battle with UK businesses over Covid furlough scheme
[FREE TO READ] Judges to decide if insurance groups can deduct government funds from payouts for business interruption
https://on.ft.com/3EfaI2q
10 months ago
0
1
0
reposted by
Lee Harris
Mary McDougall
10 months ago
Govt turns to DB pensions surpluses in its latest attempt to kickstart growth⊠having left ÂŁ1.2trn DB industry out of pensions review âthe implications of not touching it are worseâ surplus estimated at around ÂŁ100bn on a low risk basis
on.ft.com/42vZdOe
loading . . .
Reeves seeks to unlock billions from UK pension schemes for investment
Ministers set to allow companies to access defined benefit scheme surpluses to help kick-start growth
https://on.ft.com/42vZdOe
0
4
4
reposted by
Lee Harris
Ian Smith
10 months ago
I wrote this opinion piece a couple of years back on why we should care about reinsurers' pullback from areas like natural disasters: it leaves more risk for the rest of us
www.ft.com/content/48ef...
loading . . .
Tougher reinsurance market leaves more risk for everyone else
War in Ukraine and rising costs of extreme weather have forced reinsurers to put up price of coverage
https://www.ft.com/content/48ef4feb-207d-454e-8b81-8455a7f3f7a9
1
11
4
The next financial crisis could start in the insurance sector,
@whitehouse.senate.gov
told me. Losses like weâre seeing from LA wildfires are more than just âa fiscal blip of some kind that you recover fromâ:
on.ft.com/3DYvtiL
loading . . .
Top financial watchdog warns climate change set to trigger market panics
[FREE TO READ] Basel-based FSB says damage caused by floods, droughts and fires threatens broader pullback in lending
https://on.ft.com/3DYvtiL
10 months ago
3
100
76
Costs for construction labor and building materials remain stubbornly high, sending UK property insurance payouts to their highest level last year since 2007. Plus, climate change is bringing intense rainfall which âoverwhelms Victorian-era sewer systemsâ
on.ft.com/3WfL1oH
loading . . .
UK property insurance payouts hit highest level since 2007
[FREE TO READ] High building costs and effects of climate change are driving up amount claimed
https://on.ft.com/3WfL1oH
10 months ago
0
3
4
Update: JPM analysts have doubled their insured loss estimate to $20bn+, with total losses as high as $50bn, as blazes continue to rage
www.ft.com/content/db2c...
add a skeleton here at some point
10 months ago
0
12
17
Insurers are bracing for losses of as much as $10bn as wildfires ravage some of the most exclusive neighborhoods in California:
on.ft.com/3WaeNeg
loading . . .
Insurers brace for up to $10bn losses from California wildfires
[FREE TO READ] High value of homes and businesses in Pacific Palisades mean analysts put value of losses in the billions
https://on.ft.com/3WaeNeg
10 months ago
0
7
2
reposted by
Lee Harris
Mary McDougall
10 months ago
Rachel Reeves has said she wants pension funds to âlearn lessons from the Canadian model.â Those lessons, she hopes, could inspire a gush of money into British infrastructure and fast-growing businesses. But might the real lessons from Canada look quite different?
www.ft.com/content/7938...
loading . . .
Should the UK really look to Canadaâs pension system as its model?
Chancellor Rachel Reeves wants to learn lessons from the âMaple 8â â but they have their own problems
https://www.ft.com/content/79388c63-25b7-4640-8d88-ee4e821b3d65
1
5
4
Really happy to share that Iâve started a new position as FTâs global insurance correspondent, at a fascinating time for the industry. Big shoes to fill as successor to
@iankmsmith.bsky.social
. Please get in touch at
[email protected]
10 months ago
1
31
9
reposted by
Lee Harris
Ian Smith
10 months ago
Start 2025 right by following
@leeharris.bsky.social
who has taken over the insurance beat and written her first story on a turn in the reinsurance market (which has important ripple effects for the rest of us)
www.ft.com/content/279e...
loading . . .
Reinsurance costs fall as sector deploys record capital
Decrease follows two years of bumper profits for providers
https://www.ft.com/content/279e0473-5b23-46d7-96f9-1a43aade23e6
1
3
1
reposted by
Lee Harris
dylan saba
11 months ago
This is not funny, world-systems only act like this when they are in extreme distress
1
129
37
reposted by
Lee Harris
Jeremy Wallace
11 months ago
This debate on grid/off-grid electricity development in Africa is of huge consequence. Very nice discussion by
@leeharris.bsky.social
All of the above solutions are needed today in the face of energy poverty, but macroscale investments and overall system planning shouldn't be ignored.
loading . . .
African electricity debate pits speed against scale
Weighing the benefits of immediate electricity access vs long-term growth
https://on.ft.com/4gAJZeO
0
4
1
reposted by
Lee Harris
Todd Tucker
11 months ago
"If Brussels reopens debates over hard-fought environmental disclosure and corporate net zero targets, a more conservative European parliament could opt to scrap some regulations altogether."
@leeharris.bsky.social
on the EU green industrial policy juncture.
www.ft.com/content/3222...
loading . . .
What does the EUâs rightward shift mean for green policy?
Plus, carbon removal business Heirloom announces $150mn fundraising in boost to nascent sector
https://www.ft.com/content/322204cb-608e-47c0-98cc-5c15c29dd733
0
13
2
The World Bank just announced a debt swap for Ivory Coast. đ The announcement threw some shade at past debt-for-nature swaps that used "costly structures, including offshore special-purpose vehicles and trust funds", raising costs + reducing countries' control over their savings.
on.ft.com/4f52kPT
loading . . .
Ivory Coast turns to World Bank to replace costly debt
[FREE TO READ] Swap deal to buy back bonds issued in January comes as African borrowers struggle under expensive debt burdens
https://on.ft.com/4f52kPT
11 months ago
0
11
2
reposted by
Lee Harris
Amelia Pollard
11 months ago
Motives in the UnitedHealth murder are still obviously under investigation, but worth noting thereâs at least $220 billion of medical debt in the US. Around 3 million Americans owe more than $10,000.
0
4
1
reposted by
Lee Harris
George Parker
11 months ago
Breaking: Starmer redefines green target as he sets out his Plan for Change - with
@annasophiegross.bsky.social
and
@pickardje.bsky.social
www.ft.com/content/5f02...
loading . . .
Keir Starmer redefines UK clean power target in policy reset
PM weakens ambition for 100 per cent net clean power as he sets out policy âmilestonesâ for government
https://www.ft.com/content/5f02d901-e353-4b8c-ba71-0318ea5d02ec
1
8
6
reposted by
Lee Harris
Gemma Bristow
12 months ago
Oliver Cromwell's house festooned with Christmas lights. The man would be spinning in his grave, if he hadn't already been exhumed and dismembered.
49
1875
470
NEW: Permits for new nuclear can take years & cost companies $$100s of millions. Microsoft is building an AI tool for utilities to write applications â and the Nuclear Regulatory Commission might start using it too:
on.ft.com/4ePuQEM
loading . . .
Microsoft bets on artificial intelligence to power a nuclear resurgence â and more AI
[FREE TO READ] Plus, Walmart becomes the biggest company to drop DEI commitments
https://on.ft.com/4ePuQEM
12 months ago
0
3
2
Load more
feeds!
log in