AIG’s Profit Climbs 11% on Growth in Asia

American International Group Inc., the world’s largest insurer, said fourth-quarter profit rose 11% on life insurance earnings in Asia and higher investment income.

Net income climbed to $3.02 billion, or $1.15 a share, from $2.71 billion, or $1.03, a year earlier, the New York-based company said. Revenue rose 16% to $25.8 billion.

AIG shares rose $1.58 to $69.31 on the New York Stock Exchange.