AIG reports 2Q profit, first since 2007
Dennis writes for the Washington Post.
WASHINGTON —
American International Group Inc. reported a return to profitability Friday after six straight quarters of losses.
It attributed the results to steadier performance in some of its businesses and increased value of some of its assets, although filings show that AIG’s core insurance operations continue to struggle as the company restructures.
The bailed-out insurance giant, which had been mired in red numbers since the third quarter of 2007, said its net income in the quarter ended June 30 was $1.8 billion, or $2.30 a share.
During the same period last year, AIG lost $5.4 billion, or $41.13.
