According to a regulatory filing by the US insurer the decision was due to personal circumstances and reached by mutual agreement
AIG has stated in a regulatory filing that John Neal, the former CEO of Lloyd’s, who had been appointed to become its president, effective December 1, 2025, will not join the US insurer.
The decision was said to be reached by mutual agreement due to personal circumstances, according to a statement published by AIG.
AIG also said that chairman and CEO Peter Zaffino would continue to work with its board of directors on the insurer’s future leadership structure.
The information was released in a statement with AIG’s 8-K form, filed to US regulator the Securities and Exchange Commission.
Neal (pictured) announced in January 2025 that he would step down as CEO of Lloyd’s.
He was succeeded by Patrick Tiernan, who was promoted from his previous role of chief of markets at Lloyd’s.
The latest twist for Neal follows his earlier U-turn announced in July 2025 to join AIG, reversing course on his previously announced decision to join global re/insurance broker Aon.
When his Lloyd’s departure was announced it emerged that Neal expected to join Aon as the broker’s global CEO for reinsurance and global chairman of climate solutions.
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