Financial Institutions. Private Markets.
Capital Allocation.
How capital is created, structured, intermediated, allocated and compounded.
Gigi X. Jia writes about the financial institutions and markets through which capital moves, and how ownership, incentives and control shape where it ultimately goes.
Who
I have spent my career at the intersection of financial institutions, capital allocation and transactions, across insurance, investments, strategy, M&A and private capital. I am interested in what happens beneath the surface of financial markets: how institutions manufacture and intermediate capital, how risk moves between balance sheets, and how ownership determines what compounds over time. Most of what decides where capital ends up is settled by structure rather than by view. The shape of a liability, the treatment of capital, the terms on which money can be recalled. That is the layer I write about.
Latest
The full archiveA Quick UK PRT Market Update: September 2026
Insurers built more capacity than the market needed. Schemes are getting the best pricing on record, and insurer margins have roughly halved.