AIG’s plan to appoint John Neal as President has collapsed just weeks before he was due to take the post, with AIG announcing in an exchange filing that it had reached a mutual agreement with Neal to withdraw from the appointment, citing personal circumstances.
Neal, who spent six years as chief executive of Lloyd’s of London and five as Group CEO of QBE, was due to take charge of AIG’s general insurance division from 1 Dec 2025, to oversee the business’s North American commercial insurance, international commercial insurance, and global personal insurance divisions.
Neal’s withdrawal marks the second time in less than a year that he has pulled out of a major senior insurance appointment. Aon announced in January that he would join as Global Chief Executive of Reinsurance and Global Chairman of Climate Solutions, before the July AIG announcement that Neal would be joining the firm instead.
With Neal stepping aside, AIG’s Jon Hancock, who has served as CEO of international commercial insurance and global personal insurance at the business, will become CEO of General Insurance effective December 1, 2025, the business said.
Neither AIG nor Neal have elaborated on the specific personal circumstances leading to his decision not to join the company. AIG added that Chairman and CEO Peter Zaffino will work with the board on the organisation’s future structure.
