Credit: Bloomberg
(Bloomberg) — American International Group Inc. said it reached a “mutual agreement” with incoming president John Neal that he will no longer join the insurer because of “personal circumstances,” it said in a filing on Friday.
Neal’s withdrawal from the role was announced after reporters asked AIG about a romantic relationship with a subordinate that he failed to disclose at a previous job in 2017, according to The New York Times.
An AIG spokeperson declined to comment beyond the filing, and Neal didn’t immediately respond to a message seeking comment.
Neal had previously served as chief executive officer at Australian insurer QBE Insurance Group Ltd. In 2017, the company’s board cut his bonus by 20% after it learned Neal hadn’t disclosed the relationship, and he stepped down several months later. The news was reported by several publications at the time.
Neal had been set to start at AIG on Dec. 1. He was also previously CEO of Lloyd’s of London Ltd.
See also:
- Lloyd’s of London CEO to step down for new role at Aon
- Lloyd's of London urges insurance firms to hire more ethnic minorities
- Lloyd's launches effort to accelerate its digital future
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