AIG Profit Beats Estimates as Catastrophe-Related Losses Tumble
American International Group Inc. (AIG) signage above a trader on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergAmerican International Group Inc. reported second-quarter results that beat Wall Street expectations, helped by a sharp drop in catastrophe-related losses and higher investment gains.
Operating earnings surged 35% to $1.04 billion, or $1.81 a share, the New York-based company said Wednesday in a statement, beating the $1.61 average estimate of analysts surveyed by Bloomberg.