Particle.news
Download on the App Store
6 ARTICLES
·
last mo.

AIG Drops John Neal Hire as Lloyd’s Opens Probe Into Alleged Workplace Relationship

The decision follows a law‑firm‑supported Lloyd’s inquiry into an alleged relationship involving former subordinate Rebekah Clement.

Image
John Neal’s reputation is in the balance
John Neal, chief executive officer of Lloyd's of London Ltd., following a Bloomberg Television interview in London, UK, on Thursday, March 28, 2024. Insurance payouts for the Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Neal | Chris Ratcliffe/Bloomberg
John Neal will now not be joining AIG

Overview

  • AIG disclosed in a Nov. 14 filing that it mutually agreed with John Neal that he would not join as president, citing personal circumstances.
  • The Wall Street Journal reported AIG withdrew the offer after learning Lloyd’s had launched an investigation into an alleged workplace affair.
  • Lloyd’s said an October fact‑finding review found internal processes were not fully followed, and new information led to a formal probe supported by external lawyers.
  • The investigation focuses on Neal’s relationship with corporate affairs director Rebekah Clement, whom he promoted in 2023 to a role reporting to him; she later left Lloyd’s and has defended the propriety of her hiring.
  • Neal had been set to start on Dec. 1 after a July announcement, and prior reporting notes QBE cut his 2017 bonus for failing to disclose a relationship with his executive assistant.