As deep speech enhancement algorithms have recently demonstrated capabilities greatly surpassing their traditional counterparts for suppressing noise, reverberation and echo, attention is turning to the problem of packet loss concealment (PLC). PLC is a challenging task because it not only involves real-time speech synthesis, but also frequent transitions between the received audio and the synthesized concealment. We propose a hybrid neural PLC architecture where the missing speech is synthesized using a generative model conditioned using a predictive model. The resulting algorithm achieves natural concealment that surpasses the quality of existing conventional PLC algorithms and ranked second in the Interspeech 2022 PLC Challenge. We show that our solution not only works for uncompressed audio, but is also applicable to a modern speech codec.