He will be based in London and reports to Libby Benet, Global CUO for Financial Lines.
Colao will manage aggregate cyber exposure across AXA XL’s products globally while helping develop and implement underwriting standards globally.
He most recently served as Corporate Chief Security Officer within AXA Group Operations and prior to that spent time 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.
Commenting one the appointment, 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.”
Source: Reinsurance News
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