AXA XL has appointed Michael Reynolds as Head of Marine for the UK and Lloyd’s market, as well as Global Chief Underwriting Officer for Hull.
Based in London, Reynolds is expected to take up his new role in the third quarter of 2026. He will be responsible for leading the underwriting strategy for AXA XL’s UK and Lloyd’s marine business, while also overseeing the global hull portfolio.
“Michael is an experienced leader, with technical acumen and the strategic and operational skills to ensure thoughtful and profitable growth across our marine business,” said Louise Nevill, Chief Underwriting Officer Specialty, UK & Lloyd’s at AXA XL.
“He is very well thought of in the market, and we look forward to him joining and further enhancing the high-quality products and services we offer to clients and brokers,” she added.
Neil Cole, Global Chief Underwriting Officer, Marine at AXA XL, highlighted the evolving dynamics of the marine insurance sector.
“The International Union of Marine Insurance Stats Report for 2025 valued hull premiums at USD 9.67 billion in 2024, up by 3.5% on the previous year, continuing an unbroken growth trend since 2021,” he said.
“However, the market faces challenges including larger vessel sizes, the transition to net-zero and increased exposure to high-risk zones. Michael’s experience positions him well to ensure our global hull products align with our clients’ changing needs,” he added.
Reynolds brings more than 40 years of experience in the London insurance market, spanning both underwriting and broking roles.
He joins AXA XL from Lockton, where he served as Partner and Head of Marine for London, as well as a member of the Global Marine Executive team. Prior to that, he held senior roles at Chubb, ACE, The Navigators Group, Cigna and Commercial Union.
