Lee Harris
@leeharris.ft.com
Journalist at the Financial Times Contact: lee.harris@ft.com
Been (very lightly) dipping into this on the rec of @leeharris.ft.com, (who I think maybe got the rec from @robarmstrong.bsky.social ). A 1982 take on insurance? Really? It’s actually good and very funny. Like if Alphaville wrote a monograph on the industry 44yrs ago.
Lloyd’s says ex-CEO failed to disclose ‘close’ relationship with employee ft.trib.al/417vUtv
Lloyd’s says ex-CEO failed to disclose ‘close’ relationship with employee
Insurance market says John Neal’s behaviour fell ‘significantly below the standards expected’
ft.trib.al
🚨 The world is more dangerous. Why is risk cheaper? @leeharris.ft.com and I take a look. as.ft.com/r/5adfcf57-3...
The world is more dangerous. Why is risk cheaper?
Capital is pouring into insurance because of high returns and low volatility. But some professionals are worried about mispricing
as.ft.com
“There was no reason to delay this other than industry pressure" Great microcosm of a worrying trend in US insurance by @leeharris.ft.com as.ft.com/r/c392fa2e-f...
Todd Boehly’s insurer wins reprieve on rules to close capital arbitrage
Billionaire investor’s Security Benefit had been the heaviest user of a structure being targeted by US regulators
as.ft.com
Important stuff from @leeharris.ft.com on how the US life insurance industry loaded up on private credit www.ft.com/content/b6be...
How insurance became the lifeblood of private credit
Private capital’s insurance playbook has spread everywhere, raising concerns among those who pioneered the trade
ft.com
New: Political risk insurers are split over whether Trump’s ouster of Maduro makes Latin America riskier or safer for US investors as.ft.com/r/8a7fa593-b...
Nicolás Maduro ousting boosts demand for Latin America political risk cover
[FREE TO READ] Insurers split on whether Donald Trump’s actions in Venezuela will increase or reduce investor risk
as.ft.com
ICYMI: Berkshire Hathaway, Chubb and AIG are among a group of insurers that provided directors’ liability insurance to First Brands, the bankrupt car parts maker.
Banks and credit unions are using AI to screen borrowers and buying insurance against errors made by the AI tools. Shifting risk to insurers such as David Einhorn's Greenlight Re is helping them trim their regulatory capital requirements & loan more: www.ft.com/content/9317...
US mortgage lenders insure against artificial intelligence screening errors
Insurers including Munich Re are backing cover for AI mistakes, offering the potential to cut capital requirements
ft.com
"My 'we do very, very normal due diligence' shirt has people asking a lot of questions already answered by my shirt."
Lee Harris@leeharris.ft.com · 9mo agoTfw your credit ratings are very normal
I’m quite proud of this one, it feels like the concentrated essence of a wealth story —> on.ft.com/4nJf9DW Private jet owners rent out aircraft engines amid supply crunch
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
on.ft.com
The insurance industry has stepped up efforts to limit future payouts over for petrochemical disasters, following a record judgment by Sri Lanka’s supreme court over the world’s biggest recorded plastic spill. on.ft.com/4n49rvU
Credit insurance is back in the spotlight – my personal fomo. scoop from @leeharris.ft.com @bondhack.ft.com www.ft.com/content/de37...
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
ft.com
“It’s like when they took away free bags on airlines — it took a number of years for customers to accept it”. 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
Home insurers’ 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
on.ft.com
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...
US lifeline for Argentina relies on IMF backstop, say analysts
Trump administration’s $20bn swap line threatens to load even more debt on to struggling South American country
ft.com
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...
“South 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,“ as the US failed to facilitate short-term work visas despite a FTA. www.ft.com/content/c677...
Korean companies admit cutting corners on US visas but say they have little choice
US is ‘two-faced’ in pushing Korea to complete multibillion dollar projects on time but refusing to facilitate necessary work documents
ft.com
“It’s a way for insurers to monetise good credit ratings.” 👀 on.ft.com/46CguXE
The niche debt tool at the heart of Apollo’s private credit machine
How Apollo’s in-house insurer has raised capital to fund the group’s lending, without turning to policyholders
on.ft.com
The world’s 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
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...
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
ft.com
the details about the Wong Kar Wai /Christopher Doyle inspo and the naturalistic sound editing are so fascinating
Corey Atad@coreyatad.com · 12mo ago"Listen, we're not on a studio set. We're not on the backlot at Sony. We're in New York City, and it's going to feel like it." for @defector.com, i talked to the team behind @zohrankmamdani.bsky.social's campaign videos to learn their secrets (see: a lot of sincerity; and a dash of Tim & Eric)
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
Apollo’s insurer points finger at rivals over potential conflicts
[FREE TO READ] US life insurers’ related party assets have come under scrutiny as private equity has piled into the sector
on.ft.com
Credit insurance once meant a policy that would pay out if a banana shipment didn’t 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...
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
ft.com
Interesting new study from NY Fed compares how lenders treat unmapped flood risk (due to FEMA’s 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
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...
Brookfield strikes £2.4bn deal to buy London-listed insurer Just Group
Chancellor Rachel Reeves welcomes deal amid concerns over UK stock market departures
ft.com
A senior industry figure has accused asset managers of chasing fees at insurers’ expense, as he launches a contrarian fund he says will do things differently: on.ft.com/44FFoop
Insurance veteran launches fund to combat asset managers chasing fees at insurers’ expense
[FREE TO READ] Former American Equity Insurance Life boss Anant Bhalla launches private assets investment fund with different fee model
on.ft.com
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 — and why, despite recently issuing a catastrophe bond, he is pricing in stubbornly high reinsurance costs: on.ft.com/3IFcUmg
Investors hitting ‘limit’ for insuring against UK floods, warns Flood Re chief
[FREE TO READ] CEO of reinsurer says exposure to risks is now ‘worse’ than when the scheme started in 2016
on.ft.com
“It won’t be a question of how much you’re willing to pay — the cover won’t 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...
US liability insurance on verge of ‘breakdown’ from tide of claims
Insurers say companies could struggle to obtain cover for harms to workers and consumers
ft.com
