Axa XL has promoted Neil Cole to the post of global chief underwriting officer, Marine, effective April 1.

In his new role, Mr Cole will work to set the strategic direction and support the development of Axa XL’s Marine portfolios, the company said.

He will sit within Axa XL’s global chief underwriting office, which works with Axa XL’s regional underwriting teams to support profitable growth, assisting with pricing, risk aggregation and global product strategy.

Based in London, Mr Cole will report to Anne Marie Elder, global chief underwriting officer, Specialty, who said: “The marine transportation industry is undergoing significant change.

“Our clients are using increasingly large vessels while exploring greener fuel as part of their decarbonisation efforts.

“They’re also making headways in the use of new technologies, including artificial intelligence. As a result, our marine clients are facing new risks and are turning to us to help them better understand and manage those.”

She added: “With a career spanning over more than two decades, a deep knowledge of our industry and the respect he’s earned over the years, Neil is an ideal candidate to support our regional underwriting teams and drive the profitable development of our marine portfolio.”

The company said Mr Cole has 25 years of experience in the marine industry, including ten at Axa XL.

He started his career in claims before moving into underwriting and specialising in international marine markets.

Since 2020, Mr Cole was global head of Underwriting Management and deputy chief underwriting officer, Marine.