AIG reports improving profits in Q2

American International Group, Inc. (AIG) has reported that in the second quarter of 2012 it made net income of $2.3bn.

This is an improvement on the same period last year when the firm reported net income of $1.8bn, but is less than the $3.2bn of Q1 2012.

The firm also made after-tax operating income of $1.9bn, which is also down on the preceding quarter ($3.1bn) but better than the $1.2bn of the corresponding period last year.

President and Chief Executive Officer Robert H. Benmosche said that the firm was proud of what it had accomplished, adding that AIG was close to returning to America all that had been provided to the firm during the financial crisis, with a profit on top of that.

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Category: Financials, Insurance News