AXA XL promotes company veteran to marine global CUO

AXA XL promotes company veteran to marine global CUO | Insurance Business Canada

Marine

AXA XL promotes company veteran to marine global CUO

From his foreign base, he will operate under the firm’s GCUO framework

Marine

By
Kenneth Araullo

AXA XL has elevated Neil Cole (pictured above) to the position of global chief underwriting officer for its marine sector, effective from April 1.

Cole brings to the role a wealth of industry knowledge, with a 25-year tenure in the marine sector, including the last decade at AXA XL. Beginning his career in claims, he transitioned into underwriting, with a focus on international marine markets.

Prior to his current promotion, Cole had served as global head of underwriting management and deputy chief underwriting officer for marine since 2020. Besides AXA, he has also served in previous roles at XL Group, Zurich Insurance, and Starr Companies.

In this new capacity, Cole is tasked with steering the strategic course and facilitating the growth of AXA XL’s marine insurance portfolios. His responsibilities will include overseeing the development of global product strategies, pricing, and risk aggregation, functioning within the framework of AXA XL’s global chief underwriting office (GCUO).

Operating out of London, Cole will directly report to Anne Marie Elder, the global chief underwriting officer for specialty at AXA XL.

“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,” Elder said.

Elder praised Cole’s appointment, noting his extensive experience and deep-rooted understanding of the marine insurance industry.

“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,” Elder said.

In recent developments for its parent company, AXA unveiled the latest edition of its Mind Health Report, which sheds light on the concerning state of mental health globally.

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