American International Group, Inc. (AIG) has announced the appointment of former Lloyd’s chief John Neal (pictured) as its incoming president, effective Dec. 1.
Neal will report directly to chairman and CEO Peter Zaffino and will be responsible for overseeing the company’s general insurance operations, which span North America commercial, international commercial, and global personal insurance.
Neal will also become part of the executive leadership team.
Zaffino commented that Neal’s industry experience and underwriting background will strengthen AIG’s leadership. “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,” he said. “I am confident that John will continue to enhance our culture of underwriting excellence. I look forward to working with him as we continue to drive profitable, sustainable growth and further strengthen our relationships with our valued clients and partners across the industry.”
Neal, who previously served as CEO of Lloyd’s of London from 2018 to 2025 and held senior roles at QBE, expressed his intent to collaborate closely with AIG’s leadership and staff worldwide to serve clients and stakeholders.
“AIG is an iconic, global insurance industry leader, recognized for the deep technical expertise of its team and its remarkable strategic repositioning,” he said. “I look forward to working closely with Peter and AIG’s talented colleagues around the world on behalf of our clients and stakeholders.”
AIG’s announcement follows the release of its first quarter 2025 financial results. The company 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.
Global commercial insurance contributed US$3.2 billion in NPW, an 8% increase year-over-year, or 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.
The general insurance combined ratio stood at 95.8%, while the accident year combined ratio, as adjusted, was 87.8%. Net income per diluted share was US$1.16, and adjusted after-tax income per diluted share was US$1.17.
During the quarter, AIG returned US$2.5 billion to shareholders, including US$2.2 billion in share repurchases and US$234 million in dividends. The board of directors approved a 12.5% increase in the quarterly common stock dividend.
