AXA XL appoints new Global Chief Underwriting Officer for Cyber

AXA XL announced that Michael Colao has joined as Global Chief Underwriting Officer, Cyber. He will report to the recently promoted Global Chief Underwriting Officer for Financial Lines, Libby Benet. Based in London, Mr Colao will manage aggregate cyber exposure across AXA XL’s products globally. Additionally, he will help develop and implement strong underwriting standards globally. He will also drive innovation to ensure AXA XL continues as a partner of choice in this important line of business.

About Michael Colao

Mr Colao most recently served as Corporate Chief Security Officer within AXA Group Operations. There, he oversaw Information Security, Physical Security, and Operational Resilience for multiple entities within AXA Group, including AXA XL. Before that, he served as Chief Security Officer for AXA UK and Ireland, for nearly a decade, managing cybersecurity for 15 AXA-owned companies globally.

Mr Colao represents the Insurance industry in the Bank of England’s Cross-Market Operational Resilience Cyber Coordination Group. He also serves on the steering committee of the UK government Financial Services Cyber Coordination Centre. There, he advises on regulation as appropriate. In 2020, he joined the Cyber Coordination Group’s Cloud Security working group. He also joined the 3rd party and Supply Chain risk, working group.

Commenting on the same, Ms Benet said, “Michael brings a wealth of knowledge from his nearly 20 years as a senior Cyber Security expert in the financial service industry. His background and technical expertise will complement the underwriting talent within our global cyber team, providing a unique perspective into cyber risk.”