American International Group (AIG) general insurance chief executive Jon Hancock will retire at the end of the year.
The announcement is the latest change in AIG’s top management, which has undergone several shakeups, including one that brought Hancock to his latest role at the company.
Hancock was appointed CEO of General Insurance in November 2025, after John Neal, the former CEO of Lloyd’s of London, reached a “mutual agreement” with AIG to no longer lead the General Insurance business, which includes North American and international commercial lines as well as AIG’s global personal lines business.
Related: Former Lloyds CEO Neil won’t join AIG; Hancock to become general insurance CEO
Hancock will become a senior advisor to AIG and report to President and CEO Eric Anderson. He will provide executive support for growth initiatives and continue to serve on the boards of Talbot Underwriting, AIG UK and Tata AIG General Insurance Company.
Hancock joined AIG in 2020 as CEO of International Insurance. Prior to joining AIG, Hancock served as Director of Performance Management at Lloyd’s of London from 2016. He also spent 26 years at RSA in senior positions.
“Jon has provided significant leadership in repositioning our business, strengthening underwriting performance, strengthening our relationships with customers and partners, and advancing our talent and culture globally,” Anderson said.
AIG has not announced Hancock’s successor.
Prior to Neal’s hiring, General Insurance was led by David McElroy, who was promoted to the newly created role of Chairman of General Insurance in October 2023. However, in May 2024, AIG announced that McElroy was retiring shortly after McElroy was questioned by police during a client meeting over an alleged sexual assault in Vermont. McElroy was charged in late 2024 in connection with the incident.
Last year, the company announced that Don Bailey, its head of commercial insurance for North America, would retire at the end of the year to focus on health.
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American International Group
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