American International Group, Inc. (AIG) has reported its financial results for the third quarter of 2012, during which it made a net income of $1.9bn.
This is a significant turn around since the corresponding quarter last year when the firm incurred a net loss of $4bn, but is a decline from the second quarter of 2012 when AIG made $2.3bn.
Quarterly diluted earnings per share were $1.13, compared to a diluted loss per share of $2.10 in Q3 2011.
President and Chief Executive Robert H. Benmosche welcomed another solid quarterly result for the firm, which he said was seeing continuing momentum.
Benmosche added that whilst the AIG offices in lower Manhattan had been without power for some time the firm’s contingency plans enabled it to continue serving customers during a very difficult time.
He commended AIG’s employees for their perseverance and commitment to the firm’s customers.