American International Group reported quarterly earnings and revenue that beat analysts' expectations on Monday.
The insurer posted earnings of $1.21 a share, excluding items, on revenue of $8.63 billion. After-tax operating income increased 23 percent from the same period last year to $1.7 billion, the company said in a release.
Analysts had expected the firm to post earnings of $1.09 a share on revenue of $8.6 billion.
Following the report, AIG's shares rose more than 1 percent in after hours trade. (Click here to track its shares.)
"I am excited to lead AIG forward and further build on our capabilities to serve all our stakeholders," AIG President and CEO Peter Hancock said in a release.
"The solid third-quarter results were driven by consistent performance across our businesses," he said, adding that the board has authorized share repurchases of $1.5 billion going forward.
In the third quarter, AIG repurchased 24.8 million shares of common stock, the release said.