American International Group (AIG) is reshuffling its top ranks again, this time in dramatic fashion. Jon Hancock will step in as CEO of General Insurance on Dec. 1, taking over a remit that spans North America, international commercial lines, and the company’s global personal insurance book.
Cooper, Luck, Levinson, global CUO Chris Flatt, and global chief claims officer Julie Chambers will all report to him. It’s a fast elevation, but not a surprising one for insiders watching AIG’s leadership drift since mid year.
Hancock’s rise has been steady. He first took on CEO of international insurance after AIG’s leadership overhaul in late 2023. By early 2025, the company expanded his remit to EVP, CEO of international commercial insurance, and global personal insurance.
Now he inherits the entire General Insurance operation – a move accelerated by an unexpected twist.
AIG on Oct. 11 announced three significant appointments within its executive leadership team.
John Neal, former CEO of the specialist Lloyd’s insurance and reinsurance marketplace, will no longer be joining the firm due to personal circumstances.
Back in January 2025, it was revealed that Neal, who served as CEO of Lloyd’s since October 2018, would be leaving the marketplace to join broking giant Aon as Global CEO of its reinsurance operation.
Months later, in July, it was reported that the executive would not be joining Aon and instead decided to take on the role of President of AIG, effective December 1st, 2025.
With Hancock stepping in, the company gets someone who already knows the internal wiring and won’t need a long runway.
AIG wanted stability more than a splashy hire. Neal would have been the lightning bolt; Hancock becomes the continuity play.
And given the pace of executive movement in the sector lately, continuity might be the only thing that keeps strategy from wobbling.
