AXA XL has appointed Samantha Wotton (pictured) as head of coverholder development for the UK as delegated authority business continues to expand across the London market.
Wotton, who will be based in London, reports to Elie Hanna, chief distribution officer for the UK and Lloyd's. She will oversee AXA XL's coverholder strategy and work with underwriting teams on portfolio development and distribution.
The appointment comes as delegated authority continues to expand its share of Lloyd's premium income. AXA XL cited market figures showing delegated authority premiums rose from £10.4 billion in 2018 to £22.1 billion in 2023, increasing their share of the Lloyd's market from 30% to more than 40%.
As delegated authority grows, insurers are placing greater emphasis on relationships with coverholders and managing general agents (MGAs). These arrangements allow carriers to access specialist risks and distribution channels that may be difficult to reach through traditional underwriting structures.
The trend has prompted insurers to invest in distribution, oversight, and portfolio management capabilities. For many carriers, delegated authority has become a key route to growth in specialist and regional markets.
Hanna said delegated authority premiums are expected to exceed 45% of Lloyd's market premium by 2027, citing analysis from Oxbow Partners.
Wotton joins AXA XL from DUAL Group, where she served as deputy commercial officer and helped shape commercial strategy across the company's delegated portfolio.
Her move comes as established MGA platforms continue to expand underwriting operations and seek additional carrier capacity. The growth of delegated business has increased demand for executives with experience in portfolio management, distribution and coverholder relationships.
Before joining DUAL in 2020, Wotton held positions at ArgoGlobal and Tokio Marine Kiln. She has worked in insurance and financial services for more than two decades.
The expansion of delegated authority has also drawn closer attention from regulators. Recent supervisory priorities have placed delegated authority arrangements under closer regulatory scrutiny. Firms now face higher expectations around governance, oversight and accountability between insurers and delegated partners.
Lloyd's data shows delegated underwriting now accounts for about 45% of market premium income. The figures illustrate how coverholders have become a central part of the market's distribution model, while increasing the importance of effective oversight as the sector continues to expand.
