Benmosche's Last AIG Earnings Report Showed Top and Bottom Beats

Bob Benmosche released his last earnings report as AIG's president and CEO, having run the company for the five years following the government's bailout of the insurance giant. AIG reported earnings for the quarter of $2.10 a share versus estimates of $1.21. Revenues were $16.1 billion, beating estimates but were nearly $2 billion below last year's second quarter revenues. $0.96 of the $2.10 in earnings is attributed to the after-tax gain on the sale of ILFC to AerCap and marks the final sale of any of AIG's non-core businesses. Benmosche will be succeeded by Peter Hancock who was previously the executive VP at AIG and CEO of AIG's Property Casualty division. Whalen MacHale reports for TheStreet from New York.