AXA XL appoints new Global Chief Underwriting Officer for Cyber

AXA XL has announced (28 January 2021) that Michael Colao has joined as Global Chief Underwriting Officer, Cyber, reporting to the recently promoted Global Chief Underwriting Officer for Financial Lines, Libby Benet.

Commenting 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.”

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, and drive innovation to ensure AXA XL continues to be a partner of choice in this important line of business.

Mr. Colao most recently served as Corporate Chief Security Officer within AXA Group Operations where he oversaw Information Security, Physical Security, and Operational Resilience for multiple entities within AXA Group, including AXA XL. Prior to that, he served as Chief Security Officer for AXA UK and Ireland, for nearly a decade, managing cyber security 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 and serves on the steering committee of the UK government Financial Services Cyber Coordination Centre, advising on regulation as appropriate. In 2020, he joined the Cyber Coordination Group’s Cloud Security working group and the 3rd party and Supply Chain risk working group.

Authored by AXA XL