AIG Appoints Former Lloyd’s CEO John Neal as President
Introduction
American International Group, Inc. (AIG), a leading global insurance organization, has announced the appointment of John Neal, former CEO of Lloyd’s of London, as its new president, effective December 1, 2025. This strategic move has garnered significant attention in the insurance industry, given Neal’s extensive experience and reputation as a seasoned executive. Neal’s appointment comes at a time when AIG is focused on strengthening its leadership and advancing its global insurance strategy. This article provides a detailed overview of Neal’s new role, his background, and the implications for AIG’s future.
John Neal’s Appointment
John Neal will assume the role of president at AIG, reporting directly to Chairman and CEO Peter Zaffino. In this capacity, Neal will oversee AIG’s General Insurance operations, which include North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance. He will also join AIG’s Executive Leadership Team, contributing to the company’s strategic direction. Neal will be based in both London and New York, reflecting AIG’s global footprint. Key executives, including Don Bailey (CEO, North America Commercial Insurance), Jon Hancock (CEO, International Commercial Insurance and Global Personal Insurance), and Christopher Flatt (Global Chief Underwriting Officer), will report to Neal.
AIG Chairman and CEO Peter Zaffino praised Neal’s appointment, stating, “I have known John for more than 20 years, and he is widely recognized as one of the most accomplished insurance executives in the industry. His appointment adds significant depth, global underwriting experience, and talent to our leadership team. I am confident that John will continue to enhance our culture of underwriting excellence.”
John Neal’s Background
John Neal brings a wealth of experience to AIG, having served as CEO of Lloyd’s of London from October 2018 to January 2025. During his tenure, Neal led a significant turnaround of the world’s largest insurance and reinsurance marketplace, strengthening its financial performance and global reputation. Prior to Lloyd’s, Neal held several senior leadership roles at QBE Insurance Group, including Group CEO, Chief Underwriting Officer, and Chief Operations Officer for European operations. His extensive experience in underwriting, operations, and strategic leadership makes him a valuable addition to AIG’s leadership team.
Interestingly, Neal was initially set to join Aon in September 2025 as Global Chairman of Climate Solutions and Global CEO of Reinsurance, as announced in January 2025. However, AIG’s offer prompted Neal to reverse course and join the insurer instead. Aon President and CEO Greg Case commented, “We wish John Neal great success in his new role and look forward to working with him at AIG. Global Solutions CEO Andy Marcell and our industry-leading Reinsurance team are strongly positioned to continue to innovate on behalf of our clients.”
Neal expressed enthusiasm for his new role, stating, “AIG is an iconic, global insurance industry leader, recognized for the deep technical expertise of its team and its remarkable strategic repositioning. I am honored to take on the role of President and look forward to working closely with Peter and AIG’s talented colleagues around the world on behalf of our clients and stakeholders.”
AIG’s Strategic Context
The announcement of Neal’s appointment coincides with AIG’s release of its first-quarter 2025 financial results, providing context for the company’s current performance and strategic priorities. AIG reported net premiums written (NPW) of US$4.5 billion, unchanged from the prior year on a reported basis but reflecting an 8% increase on a comparable basis. The Global Commercial Insurance segment contributed US$3.2 billion in NPW, marking an 8% year-over-year increase (10% on a comparable basis), with North America Commercial up 14% and International Commercial up 8%. New business written in the global commercial segment reached US$1.1 billion, a 12% increase from the previous year.
Additionally, AIG reported an adjusted earnings per share (EPS) of $1.17, surpassing the forecasted $0.99, though its revenue of $6.8 billion slightly missed projections of $6.83 billion. The company returned US$2.5 billion to shareholders during the quarter, including US$2.2 billion in share repurchases and US$234 million in dividends, with the board approving a 12.5% increase in the quarterly common stock dividend. These results highlight AIG’s focus on financial discipline and shareholder value, areas where Neal’s expertise is expected to contribute significantly.
Analysts have responded positively to AIG’s trajectory. Keefe, Bruyette & Woods raised their price target for AIG shares to $97.00 from $94.00, maintaining an Outperform rating, citing solid growth and expense reductions.
Implications for AIG
Neal’s appointment is a strategic move to bolster AIG’s leadership as it navigates a competitive and evolving insurance landscape. His global underwriting experience and track record of driving turnarounds, as demonstrated at Lloyd’s, align with AIG’s goals of enhancing underwriting excellence and expanding its market presence. AIG has undergone significant restructuring in recent years, including the reorganization of its Commercial and Consumer segments into General Insurance and Life & Retirement, as well as the sale of its mortgage-guarantee unit, United Guaranty, to Arch Capital Group for $3.4 billion in 2016.
Neal’s leadership is expected to strengthen AIG’s General Insurance operations, which are critical to the company’s global strategy. His experience at Lloyd’s, a hub for specialist insurance and reinsurance, and at QBE, a major player in commercial insurance, positions him to drive innovation and growth in AIG’s North America and international markets. Furthermore, his presence on the Executive Leadership Team will likely influence AIG’s approach to risk management, client service, and operational efficiency.
Industry Reactions
The insurance industry has taken note of Neal’s move to AIG, with several publications and social media posts highlighting the significance of the appointment. Posts on X described the move as a “splash” in the industry, emphasizing Neal’s reputation and the unexpected shift from Aon to AIG. The Wall Street Journal and other outlets reported on AIG’s success in “snagging” Neal from Aon, underscoring the competitive nature of executive talent acquisition in the insurance sector.
Conclusion
The appointment of John Neal as AIG’s president marks a significant milestone for the company as it seeks to reinforce its position as a global insurance leader. Neal’s extensive experience, proven leadership at Lloyd’s, and deep industry knowledge make him a strong fit for AIG’s strategic objectives. As AIG continues to focus on underwriting excellence, financial performance, and global expansion, Neal’s role will be pivotal in shaping the company’s future. Industry observers will be watching closely to see how his leadership influences AIG’s trajectory in the coming years.