AXA XL has named Samantha Wotton as head of coverholder development for the UK, a move that comes as delegated authority business continues to gain momentum across the London market.
Based in London, Wotton will report to Elie Hanna, chief distribution officer for the UK and Lloyd’s. In her new role, she will lead AXA XL’s coverholder strategy while working closely with underwriting teams on portfolio development and distribution planning.
The appointment reflects the continued growth of delegated authority within the Lloyd’s market. AXA XL pointed to market data showing that delegated authority premiums increased from £10.4 billion in 2018 to £22.1 billion in 2023. Over the same period, the segment’s share of Lloyd’s premium income rose from 30% to more than 40%.
Delegated authority gains importance in distribution
As delegated authority business expands, insurers are placing more focus on relationships with coverholders and managing general agents (MGAs). These partnerships give carriers access to specialist risks and distribution channels that can be harder to reach through traditional underwriting models.
The trend has led insurers to strengthen their capabilities in distribution, oversight and portfolio management. For many carriers, delegated authority is increasingly viewed as an important avenue for growth, particularly in specialist and regional markets.
Rising demand for delegated authority expertise
Wotton joins AXA XL from DUAL Group, where she served as deputy commercial officer and played a role in shaping commercial strategy across the firm’s delegated portfolio.
Her appointment comes at a time when established MGA platforms are continuing to expand their underwriting operations and seek additional carrier capacity. As delegated authority business grows, so too does demand for executives with expertise in portfolio management, distribution and coverholder relationships.
Before joining DUAL in 2020, Wotton held roles at ArgoGlobal and Tokio Marine Kiln. She brings more than 20 years of experience across insurance and financial services.
Growth comes with greater regulatory focus
The rapid expansion of delegated authority has also attracted closer regulatory attention. Recent supervisory priorities have placed these arrangements under increased scrutiny, with firms facing rising expectations around governance, oversight and accountability between insurers and their delegated partners.
According to Lloyd’s data, delegated underwriting now represents around 45% of market premium income. The figures underline the growing role of coverholders in the market’s distribution model, while also highlighting the need for strong oversight as the sector continues to evolve.
