Briefing: Ex-Lloyd’s chief executive still to find a home after AIG split

The future career of former Lloyd’s chief executive John Neal – who stood at the helm of the London marketplace between October 2018 and May 2025 – has taken yet another new twist in a year-long storyline that has splashed speculation across news outlets.

Neal’s headline hogging started back in January 2025 when Lloyd’s hurriedly announced that Neal would step down from his leadership role at One Lime Street to take up a new position at broking giant Aon.

The wider insurance market and the trade media were informed that he would take the role of global chief executive of Aon’s reinsurance operations, signalling an important step change for Neal away from the cocoon of Lloyd’s.

Twist or stick?

Neal initially arrived at Lloyd’s in 2018 with big plans.

Providing a fresh set of eyes after more than a decade working for insurer QBE in both the UK and Australia, he set about changing the culture of the wider London market, as well as digitally revamping it through the launch of Blueprint Two in 2020.

Blueprint Two was pipped as a heady cocktail that would shake up the way London transacted business, streamline capital flows and create an online platform that would bring new business to London.

However, as Neal instigated his departure from Lloyd’s, it was clear that his transformational technology drive was on the rocks – and in the succeeding months, the plan was significantly watered down and hit with further pushbacks to its implementation timetable.

Despite this apparent rockiness, Aon was seemingly keen to announce its recruitment coup – the broker confirmed in May 2025 that Neal would be joining its fold from September 2025.

This plan did not go ahead, however. In July 2025, before even walking into Aon’s headquarters a stone’s throw from his previous professional abode, Neal had abandoned ship for US insurer AIG, to become its president from 1 December 2025.

The market rumour mill went into overdrive with discussions as to whether the Aon role had been a ruse in order to release Neal from any non-compete clauses in his Lloyd’s contract, which would have stated that he could not go to a rival market.

But, on 17 November 2025 – a fortnight before he was due to assume this role – AIG issued a statement saying that Neal would not be joining the company after all.

In the firm’s submission to federal independent agency the US Securities and Exchange Commission (SEC), AIG said this decision had been mutual and was for personal reasons.

“AIG chairman and chief executive Peter Zaffino will continue to work with the board on the future organisational structure of the company, to drive performance on behalf of its clients, partners and stakeholders,” the insurer added.

Healthy career prospects?

What Neal will do now is very much an unknown. However, if his decision to backtrack on the AIG position was due to personal reasons, this does raise somewhat of a red flag.

In 2022, during his tenure at Lloyd’s, Neal was involved in a very serious incident where he was knocked off his bicycle by a vehicle while out riding in East Anglia.

He was subsequently off work for many weeks and while there was never any official detail on the injuries he sustained, those close to the society of Lloyd’s said his injuries had been significant. Indeed, some commentators went as far as to say that Neal had been extremely lucky to survive.

One has to hope that Neal’s decision to decline the role at AIG is not down to issues with his health.

Many in the market, therefore, are paying close attention to where Neal eventually chooses to continue his career – especially considering he is such a high profile market figure that seemingly left the world’s oldest insurance market at speed and has subsequently flitted between important job roles at prominent firms.

It looks like there are still some twists and turns to come as Neal conducts his next career chapter.