AIG Quarterly Profit Rises on Lower Catastrophe Losses
AIG posted a first-quarter adjusted profit of $1.15 billion as catastrophe losses fell 66%. The insurer also increased its quarterly dividend to 50 cents.
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AMERICAN INTERNATIONAL GROUP reported adjusted after-tax income rose 64% to $1.15 billion during the first quarter ending March 31. General insurance underwriting income tripled to $774 million as catastrophe-related charges fell 66% to $180 million. Lower wildfire claims in the United States and robust coverage demand from businesses are driving margin expansion.
