(Bloomberg) -- American International Group Inc., the largest commercial insurer in the United States and Canada, said first-quarter profit fell 27 percent as claims costs climbed at the property/casualty business. The stock dropped in extended trading.
Net income declined to $1.61 billion, or $1.09 a share, from $2.21 billion, or $1.49, a year earlier, New York-based AIG said yesterday. Operating profit fell 26 percent to $1.16 billion at the property/casualty business.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access