Jon Hancock, CEO of General Insurance at American International Group (AIG), will retire at the end of the year.
The announcement is the newest change for AIG’s C-suite, which experienced several shake-ups including the one leading to Hancock’s latest role with the company.
Hancock was named CEO of General Insurance, which includes the North America and international commercial insurance businesses and AIG’s global personal insurance book, in November 2025 once former Lloyd’s of London CEO John Neal reached a “mutual agreement” with AIG not to lead General Insurance before he was slated to start.
Related: Former Lloyd’s CEO Neal Will Not Join AIG; Hancock to Be General Insurance CEO
Hancock will become a senior advisor to AIG and report to Eric Anderson, president and CEO. 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 its CEO of International Insurance. Before AIG, Hancock was director of performance management at Lloyd’s of London from 2016. He also spent 26 years at RSA in senior roles.
“Jon has played an important leadership role in repositioning our business, strengthening underwriting performance, enhancing our relationships with clients and partners, and advancing our talent and culture around the world,” Anderson said.
AIG did not announce a successor to Hancock.
Prior to Neal’s hiring, General Insurance was lead 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 McElroy was retiring, shortly after McElroy was questioned by police about an alleged sexual assault in Vermont at a client conference. McElroy was charged in connection with the incident late in 2024.
Last year, the company announced that Don Bailey, head of commercial insurance in North America, would retire at the end of the year to focus on his health.
Topics AIG
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