|
CNBC'S MOST SHARED
- Unemployed? Bored? Make Money Playing Beer Pong
- Social Networking's 'Naked' Truth
- The Highest Grossing (Inflation Adjusted) Movies of All Time
- WPP's Sir Martin Sorrell on the Ad Recession
- Geek Squad V. Gizmodo
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Warren Buffett's Top Three Investment Rules for the Average American
- Why You Should Watch Fund Flows
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Fast Funds: Hot Ways To Play China
- Stimulus Will Kick in Later this Year: President Obama
- Lender CIT Group Hires Premier Bankruptcy Adviser
- Government Selling Bank Stakes for Too Cheap: Panel
- Buffett's Top 3 Investment Rules for Average Americans
- Market Insider: Earnings Loom in the Week Ahead
- Bulls Get Summertime Blues, But It's Hot Fun for Bears
- As Banks Fail, Strong Institutions Become More Visible
- GM IPO in Second Quarter 2010 at the Earliest: CFO
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Market 360: The Week's Best & Worst
- Geek Squad V. Gizmodo
- Brandt: Google Chrome OS in the Post-PC Age
- Other People Are Weirder Than We Are
- Bank Failures: Is The Nightmare Over? (Video)
- California Here I Go? No.
- Roginsky: No More Mr. Nice Guy
- Commercial Conundrum
Text Size 
American International Group [AIG
Loading...
()
], the world's largest insurance company, said quarterly net income grew due to higher insurance premium revenue.
Second-quarter net earnings rose to $4.28 billion, or $1.64 a share, from $3.19 billion, or $1.21 a share, in the year-earlier quarter.
On an adjusted basis, the New York-based company reported earnings of $1.77 a share, above the Thomson Financial consensus forecast of $1.61 a share.
"Overall, AIG performed very well in the second quarter," said CEO Martin J. Sullivan, in a prepared statement. "AIG's financial performance continues to reflect the competitive advantages of our diverse, global operations."
Shares of AIG rose more than 2% in after-hours trading, boosted in part by comments regarding the company's housing-related exposure.
"We continue to be very comfortable with our exposure to the U.S. residential mortgage market, both in our operations and our investment activities," the company said in the release.
AIG said it bought back more than 22 million shares during the second quarter with an additional 24.5 million purchased through Aug. 6, 2007, for a year-to-date buyback amount of about 49.0 million.
The company said it continues to expand global operations, noting that it recently received approval to launch a general insurance subsidiary in China.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes