American International Group, Inc. (NYSE:AIG) today reported net income attributable to AIG of $1.6 billion for the quarter ended March 31, 2014, compared to $2.2 billion for the first quarter of 2013. After-tax operating income attributable to AIG was $1.8 billion for the first quarter of 2014, compared to $2.0 billion for the prior-year quarter.
Diluted earnings per share attributable to AIG were $1.09 for the first quarter of 2014, compared to $1.49 for the first quarter of 2013. After-tax operating income per diluted share attributable to AIG was $1.21 for the first quarter of 2014, compared to $1.34 in the prior-year quarter.
“I am very pleased with AIG’s solid operating profits this quarter,” said Robert H. Benmosche, AIG President and Chief Executive Officer. “The earnings power of our business coupled with our customer strategy reinforce the strength of our foundation throughout our core insurance operations. I am encouraged by the positive momentum we’ve generated around the world, which has enabled us to become closer to, and better serve, our customers.
“These results reflect strong operating income across our insurance operations, as well as execution of our capital management strategy,” Mr. Benmosche continued. “We remain diligently focused on increasing operational efficiency, managing our expenses, and investing in technology; we continue to look at ways to simplify and make our organization more efficient to ensure that we are creating a company that will thrive well into the future.“As we look to build upon the important work we have already done, we must continue to develop and grow our company so that it is more sustainable. We have made great strides in this transformation and in showing what we are capable of as a company, but we still have work to do. Above all else, we must operate and make sound business decisions as a company whose number one priority is to understand and provide for its customers.