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American International Group, Inc. (NYSE: AIG) today reported net income attributable to AIG of $1.9 billion and after-tax operating income of $1.6 billion for the quarter ended September 30, 2012, compared to a net loss attributable to AIG of $4.0 billion and an after-tax operating loss of $3.0 billion for the third quarter of 2011. Diluted earnings per share and after-tax operating income per share were $1.13 and $1.00, respectively, for the third quarter of 2012, compared with a diluted loss per share and an after-tax operating loss per share of $2.10 and $1.58, respectively, for the third quarter of 2011.
“AIG again posted a solid quarter, reflecting the continued strength of our core insurance operations and strong investment returns,” said Robert H. Benmosche, AIG President and Chief Executive Officer. “We are seeing continued momentum, and we’re building for the future by creating a more streamlined, efficient, and nimble company.
“Over the past week, our priorities have been to assist our customers affected by Hurricane Sandy and to safeguard our employees. It is too early to provide an estimate of the financial impact of the storm. At this time, AIG offices in lower Manhattan, including our corporate headquarters, are without power and our business continuity plans have enabled us to continue to serve our customers and operate nearly without interruption. I commend our employees in the path of the storm for their perseverance and commitment to AIG and our customers.
“During the third quarter, our global property casualty operations benefited from improving pricing trends, continued implementation of strategic initiatives, and positive marks on recently acquired structured securities, while making strategic investments to increase efficiencies. Our domestic life and retirement operations delivered a solid quarter and also benefited from positive marks on higher yielding investments, as well as positive alternative investment returns. Mortgage Guaranty and Aircraft Leasing each posted profits, and have solidified their positions as leaders in their respective industries.