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October 25, 2001 at 08:00 PM
NU Online News Service, Oct. 25, 11:18 a.m. – American International Group Inc., New York, is reporting $327 million in net income for the third quarter on $16 billion in revenue, compared with $1.7 billion in net income on $14 billion in revenue for the third quarter of 2000.
Core income, which excludes $1.4 billion in unusual costs related to the Aug. 29 acquisition of American General Corp. and $900 million in charges related to the Sept. 11 attacks on the World Trade Center, increased to $1.9 billion, from $1.7 billion.
AIG life insurance operations generated $1.3 billion in operating income for the quarter on $13 billion in revenue, up from $1.2 billion in net income on $13 billion in revenue.
Domestic sales of fixed annuities and sales of variable annuities in Japan were especially strong, AIG says.
