AXA XL, the property and casualty and specialty risk division of AXA, has named Neil Cole as the global chief underwriting officer (CUO) of marine business.
Cole, who brings more than 20 years of industry experience, will begin his new role on 1 April 2024.
His responsibilities will include setting strategic direction and supporting the development of AXA XL’s marine portfolios.
Cole has spent ten years at AXA XL. Starting his career in claims, he transitioned into underwriting, focusing on international marine markets.
Since 2020, Cole has served as global head of underwriting management and deputy chief underwriting officer of marine.
Operating from London, Cole will be part of AXA XL’s global chief underwriting office (GCUO).
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The GCUO collaborates with regional underwriting teams to drive profitable growth and provide expertise on underwriting discipline, pricing, risk aggregation and global product strategy.
He will report directly to AXA XL global CUO of specialty Anne Marie Elder, who was appointed in this role recently.
Elder said: “The marine transportation industry is undergoing significant change. Our clients are using increasingly large vessels while exploring greener fuel as part of their decarbonisation efforts. They are also making headways in the use of new technologies, including artificial intelligence. As a result, our marine clients are facing new risks and are turning to us to help them better understand and manage those.
“With a career spanning over more than two decades, a deep knowledge of our industry and the respect he has earned over the years, Neil is an ideal candidate to support our regional underwriting teams and drive the profitable development of our marine portfolio.”
This appointment comes on the heels of AXA XL’s expansion of its general liability coverage for mid-sized businesses in the US.
The new XL Plus endorsement, featuring more than 24 additional protections, aims to strengthen AXA XL’s position in the mid-market segment by broadening its scope of coverage for clients.
