American International Group Inc.: Third-quarter profit rose...
From Times Staff and Wire Reports
American International Group Inc.: Third-quarter profit rose 19% to $324 million, and revenue rose 9% to $3.5 billion. The New York-based international insurance group said results were hurt by losses from Hurricane Hugo of about $45 million. In addition, foreign exchange rates caused a decrease in general insurance net premiums. The 1989 third-quarter operating results included a tax benefit that reduced the provision for income taxes by about $13 million, while in 1988 the provision was reduced by $25 million.
