Michael Colao Joins AXA XL To Lead Global Cyber Risk Underwriting

Michael Colao has joined AXA XL as the global chief underwriting officer, cyber, reporting to the recently promoted global chief underwriting officer for financial lines, Libby Benet.

"Michael brings a wealth of knowledge from his nearly 20 years as a senior cyber security expert in the financial service industry," Ms. Benet said in a statement. "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. In addition, he will help develop and implement strong underwriting standards globally and drive innovation to ensure that AXA XL is a partner of choice in the cyber-risk line of business.

Mr. Colao most recently served as the 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 the 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 Center, advising on regulation as appropriate. In 2020, he joined the Cyber Coordination Group's Cloud Security working group and the Third Party and Supply Chain risk working group.