AIG reports 2Q2013 net income of USD 2.7 billion

5 August 2013 —
American International Group, Inc. today reported net income attributable to AIG of USD 2.7 billion for the quarter ended June 30, 2013, compared to USD 2.3 billion for the second quarter of 2012. After-tax operating income attributable to AIG was USD 1.7 billion for the second quarters of both 2013 and 2012.

Diluted earnings per share attributable to AIG were USD 1.84 for the second quarter of 2013, compared with USD 1.33 for the second quarter of 2012. After-tax operating income per share attributable to AIG was USD 1.12 for the second quarter of 2013, compared with USD 0.96 in the second quarter of 2012. Net income attributable to AIG for the quarter exceeded after-tax operating income attributable to AIG largely due to valuation allowance releases associated with deferred tax assets from capital loss carryforwards.

"AIG's solid performance this quarter demonstrates the strength of our diverse global operations," said Robert H. Benmosche, President and Chief Executive Officer of AIG. "These results underscore our businesses' strong fundamentals and reflect our continued commitment to meeting and exceeding the expectations of our customers across all facets of our organization.

"We are pleased with our continued progress and focus on fundamentals as the new AIG - a stronger, simpler, more focused company with a renewed vision and vigor for the future," Mr. Benmosche added. "Our profits this quarter illustrate the success of our continued focus on our core insurance operations and ongoing commitment to capital management. Our property casualty, life and retirement, and mortgage insurance businesses all posted strong operating results. In particular, we witnessed strength this quarter in underwriting improvements and the successful continuation of the shift in our business mix in AIG Property Casualty, disciplined spread management in AIG Life and Retirement, strong performance in our investments, and continued improvement in our mortgage insurance business where about half of net premiums earned in the second quarter of this year were from business written post-2008."

Mr. Benmosche concluded, "Our dedication to operating as one unified company is yielding positive results, and we continue to believe that the benefits of increased collaboration across our company will build and improve upon this quarter's strong earnings."


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AIG reports 2Q2013 net income of USD 2.7 billion
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