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Lee Harris

@leeharris.ft.com
1.9K followers 215 following 84 posts

Journalist at the Financial Times Contact: lee.harris@ft.com

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Reposted by Lee Harris
Rachel Rees @rachel-rees.bsky.social · 03/09/2026
already been accused of anti-Chelsea propaganda for this one... latest for the FT, with @leeharris.ft.com
as.ft.com
Company linked to Chelsea FC co-owner Todd Boehly donated to Reform UK
Nigel Farage’s party received total donations of more than £5mn in second quarter according to Electoral Commission figures
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Toby Nangle @tobyn.bsky.social · 01/08/2026
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.
Andrew Tobias’ “Invisible Bankers” (1982)
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Reposted by Lee Harris
Financial Times @financialtimes.com · 22/07/2026
Lloyd’s says ex-CEO failed to disclose ‘close’ relationship with employee ft.trib.al/417vUtv
ft.trib.al
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’
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Toby Nangle @tobyn.bsky.social · 16/06/2026
🚨 The world is more dangerous. Why is risk cheaper? @leeharris.ft.com and I take a look. as.ft.com/r/5adfcf57-3...
as.ft.com
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 01/05/2026
“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...
as.ft.com
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
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William Wright @williamw1.bsky.social · 10/03/2026
Interesting defence www.ft.com/content/4b61...
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 24/02/2026
Important stuff from @leeharris.ft.com on how the US life insurance industry loaded up on private credit www.ft.com/content/b6be...
ft.com
How insurance became the lifeblood of private credit
Private capital’s insurance playbook has spread everywhere, raising concerns among those who pioneered the trade
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Lee Harris @leeharris.ft.com · 19/01/2026
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...
as.ft.com
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
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Lee Harris @leeharris.ft.com · 07/01/2026
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.
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Lee Harris @leeharris.ft.com · 22/12/2025
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...
ft.com
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
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Lee Harris @leeharris.ft.com · 14/11/2025
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Reposted by Lee Harris
Robert Smith @bondhack.ft.com · 10/11/2025
"My 'we do very, very normal due diligence' shirt has people asking a lot of questions already answered by my shirt."
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Lee Harris @leeharris.ft.com · 10/11/2025
Tfw your credit ratings are very normal
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Reposted by Lee Harris
Josh Spero @joshspero.ft.com · 01/11/2025
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
on.ft.com
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
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Lee Harris @leeharris.ft.com · 14/10/2025
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 10/10/2025
Credit insurance is back in the spotlight – my personal fomo. scoop from @leeharris.ft.com @bondhack.ft.com www.ft.com/content/de37...
ft.com
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
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Lee Harris @leeharris.ft.com · 03/10/2025
“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
on.ft.com
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
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Reposted by Lee Harris
Joseph Cotterill @jsphctrl.ft.com · 29/09/2025
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...
ft.com
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 26/09/2025
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...
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Reposted by Lee Harris
Joseph Cotterill @jsphctrl.ft.com · 08/09/2025
“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...
ft.com
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
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Reposted by Lee Harris
Robin Wigglesworth @robinwigglesworth.ft.com · 15/09/2025
“It’s a way for insurers to monetise good credit ratings.” 👀 on.ft.com/46CguXE
on.ft.com
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
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Lee Harris @leeharris.ft.com · 02/09/2025
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
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Todd Tucker @toddntucker.com · 19/08/2025
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...
ft.com
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
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Reposted by Lee Harris
Kyle Chayka @chaykak.bsky.social · 18/08/2025
the details about the Wong Kar Wai /Christopher Doyle inspo and the naturalistic sound editing are so fascinating
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Lee Harris @leeharris.ft.com · 18/08/2025
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
on.ft.com
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
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Lee Harris @leeharris.ft.com · 14/08/2025
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...
ft.com
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
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Lee Harris @leeharris.ft.com · 07/08/2025
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 31/07/2025
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...
ft.com
Brookfield strikes £2.4bn deal to buy London-listed insurer Just Group
Chancellor Rachel Reeves welcomes deal amid concerns over UK stock market departures
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Lee Harris @leeharris.ft.com · 21/07/2025
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
on.ft.com
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
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Lee Harris @leeharris.ft.com · 21/07/2025
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
on.ft.com
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 25/06/2025
“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...
ft.com
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
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Lee Harris @leeharris.ft.com · 27/05/2025
NEW: The boss of the world’s 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
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Lee Harris @leeharris.ft.com · 24/05/2025
>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 “potential ratings inflation” in private credit 👀
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Reposted by Lee Harris
Emma Dunkley @emdunks.bsky.social · 23/05/2025
Excl: L&G, one of Europe’s 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
ft.com
Legal & General merges divisions and cuts jobs across asset management
Move comes amid FTSE 100 company’s wider restructuring in push to acquire more private assets
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 21/05/2025
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...
ft.com
US life insurers’ offshore reinsurance liabilities breach $1tn
More than $130bn of liabilities offloaded in 2024 despite regulatory concerns
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Lee Harris @leeharris.ft.com · 21/05/2025
NEW: US life insurers have shifted more than $1 trillion of liabilities offshore, offloading more risk despite regulators’ concerns about protections for retirement savings and broader financial stability.
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Pete Sikora @petesikora.bsky.social · 22/04/2025
Hey, cool! I’m quoted in the pink pages of the financial times commenting on NYC’s major climate action today, which @nychange.bsky.social helped win!
Excerpt from FT story says “
	Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
	https://www.ft.com/content/4c825d84-5486-47b4-9d59-86f7e8af34ae

	Pete Sikora, climate campaigns director at New York Communities for Change, said: “Forces like [Tesla chief executive] Elon Musk, [conservative activist] Leonard Leo, and oil and gas companies created and funded a campaign to demonise [environmental, social and governance issues] and push firms like BlackRock to stop engaging in very modest pro-climate policies.”

“Unfortunately, the intimidation campaign was successful,” Sikora said, prompting some pension schemes in Republican-majority states to pull funds from BlackRock. He welcomed Lander’s move as a sign that New York City’s public pensions were prepared to leverage their assets too.
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Lee Harris @leeharris.ft.com · 19/03/2025
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 premiums—even before adding double-digit APR. Free to read: www.ft.com/content/21c1...
ft.com
Hidden ‘double dip’ charges hit UK car insurance customers on monthly contracts
Regulator probing whether ‘premium finance’ unfairly treats policyholders who do not pay upfront
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Reposted by Lee Harris
Robert Smith @bondhack.ft.com · 15/03/2025
“As for Saylor’s investment advice, on January 20 2025, he tweeted, “Sell your kidney if you must, but keep the bitcoin.” 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.” on.ft.com/3XTqC9D
on.ft.com
Saylor’s Strategy: buy higher, pump harder
Bitcoin’s chief hype-man is testing the boundaries of public markets regulation
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Lee Harris @leeharris.ft.com · 14/03/2025
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 — and could raise prices for consumers: on.ft.com/3DI4Q1K
on.ft.com
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
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Lee Harris @leeharris.ft.com · 10/03/2025
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
on.ft.com
Lloyd’s 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
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Reposted by Lee Harris
Katie Martin @katie0martin.ft.com · 09/03/2025
"Heaven help the US arms industry. This is catastrophic from an export standpoint.” #FAFO
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Janine Gibson @janinegibson.ft.com · 09/03/2025
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 £5 a week. HOWEVER we have listened! And FT Edit - an app which costs £5 A MONTH with 8 new reads a day - will include Jay's reviews!
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Lee Harris @leeharris.ft.com · 09/03/2025
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
on.ft.com
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
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Lee Harris @leeharris.ft.com · 02/03/2025
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
on.ft.com
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 ‘nuclear verdicts’
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Lee Harris @leeharris.ft.com · 28/01/2025
England’s 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
on.ft.com
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
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Reposted by Lee Harris
Mary McDougall @marymcd.bsky.social · 26/01/2025
Govt turns to DB pensions surpluses in its latest attempt to kickstart growth… having left £1.2trn DB industry out of pensions review ‘the implications of not touching it are worse’ surplus estimated at around £100bn on a low risk basis on.ft.com/42vZdOe
on.ft.com
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
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Reposted by Lee Harris
Ian Smith @iankmsmith.ft.com · 17/01/2025
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...
ft.com
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
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Lee Harris @leeharris.ft.com · 16/01/2025
The next financial crisis could start in the insurance sector, @whitehouse.senate.gov told me. Losses like we’re seeing from LA wildfires are more than just “a fiscal blip of some kind that you recover from”: on.ft.com/3DYvtiL
on.ft.com
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
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Lee Harris @leeharris.ft.com · 15/01/2025
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 “overwhelms Victorian-era sewer systems” on.ft.com/3WfL1oH
on.ft.com
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
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