AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced that it has promoted Neil Cole to the role of Global Chief Underwriting Officer (CUO), Marine, effective April 1, 2024.
In the role, he will be based in London, where he will report to Anne Marie Elder, Global Chief Underwriting Officer, Specialty.
Overall, Cole has 25 years of expertise across the marine industry, 10 of which have been whilst he’s worked at AXA XL.
He started his career in claims before moving into underwriting and specialising in international marine markets.
Since 2020, Cole served as Global Head of Underwriting Management and Deputy CUO, Marine.
As Global CUO, Marine, Cole is expected to set the strategic direction and support the development of AXA XL’s Marine portfolios.
In addition, AXA XL has confirmed that Cole will sit within the company’s Global Chief Underwriting Office (GCUO), which works with AXA XL’s regional underwriting teams to support profitable growth, assisting with pricing, risk aggregation and global product strategy.
Addressing Cole’s appointment, 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 decarbonization efforts. They’re 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.”
Adding: “With a career spanning over more than two decades, a deep knowledge of our industry and the respect he’s earned over the years, Neil is an ideal candidate to support our regional underwriting teams and drive the profitable development of our marine portfolio.”
