AXA XL has named Michael Colao as global chief underwriting officer (CUO) for cyber, reporting to Libby Benet, global CUO for Financial Lines.
In his new role, he will be based in London and manage aggregate cyber exposure across AXA XL’s products globally as well as helping to develop and implement strong underwriting standards globally and drive innovation.
Colao most recently served as corporate chief security officer within AXA Group Operations where he had oversight on information security, physical security, and operational resilience for a number of entities within AXA Group, including AXA XL. Prior to that, he served as chief security officer for AXA UK and Ireland.
Colao represents the Insurance industry in the Bank of England’s Cross-Market Operational Resilience Cyber Coordination Group and serves on the steering committee of the UK government Financial Services Cyber Coordination Centre, advising on regulation as appropriate.
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.”