AIG Q1 Profit Rises, Beats Street View

(RTTNews) - Insurance major American International Group Inc. (AIG) on Thursday posted first-quarter net income of $3.9 billion or $4.41 per share, higher than $1.7 billion or $1.98 per share in the same period last year.

Adjusted after-tax income for the first quarter was $923 million, or $1.05 per, compared to $105 million, or $0.12 per share in the year-ago quarter. On average, 17 analysts polled by Thomson Reuters expected the company to post earnings of $0.97 per share in the quarter. Analysts' estimates usually exclude one-time items.

First-quarter net investment income rose 46 percent to $3.7 billion from $2.5 billion in the last year quarter, helped by higher income on alternative investments and FVO equity securities.

Adjusted net investment income was up 18 percent to $3.2 billion from $2.7 billion in the previous year quarter. The company also declared a quarterly cash dividend of $0.32 per share, payable on June 29 to stockholders of record at the close of business on June 15.