John Neal, who was set to start as president of American International Group’s (AIG) General Insurance division in December, has decided not to join the company due to personal reasons. This change comes just months after Neal left his position as CEO of Lloyd’s of London.
Neal’s departure was confirmed in a brief filing with the U.S. Securities and Exchange Commission. He was expected to lead AIG’s North American and international commercial insurance units as well as its global personal insurance business. His start date was scheduled for December 1.
This isn’t the first time Neal has stepped away from a role shortly after being hired this year. Earlier in 2025, Neal was named global CEO of Reinsurance and chairman of Climate Solutions at broker Aon. He accepted the position at AIG before beginning work at Aon, but did not remain.
With Neal stepping back, AIG CEO Peter Zaffino will work with the board to shape the future leadership structure of AIG’s General Insurance business.
Meanwhile, Jon Hancock, who currently leads AIG’s international commercial insurance and global personal insurance units, is set to become CEO of General Insurance effective December 1. He will oversee a team that includes Allison Cooper and Barbara Luck, co-presidents of retail commercial insurance in North America, and Lou Levinson, president of wholesale for North America Commercial.
This comes as Don Bailey, the head of North American commercial insurance, plans to retire at the end of the year for health reasons. The recent executive shifts follow David McElroy’s retirement from the General Insurance group in May 2024. McElroy left his post amid legal troubles related to a sexual assault charge.
In other recent AIG news, the company has added renewal rights for Everest Group’s retail commercial insurance business to its General Insurance portfolio as part of a deal signed last month.
AIG’s General Insurance segment is going through noticeable changes in leadership right now. Hancock’s promotion signals a move toward continuity for the division as the company adjusts to Neal’s unexpected exit. It remains to be seen how these shifts will affect AIG’s direction going forward.