American International Group, Inc. (NYSE: AIG) has reported net income of $654 million, or $0.75 per diluted share, for the first quarter of 2019, compared to net income of $938 million, or $1.01 per diluted share, in the prior-year quarter. Adjusted after-tax income was $1.4 billion, or $1.58 per diluted share, for the first quarter of 2019, compared to adjusted after-tax income of $963 million, or $1.04 per diluted share, in the prior-year quarter.
Brian Duperreault, AIG’s President and Chief Executive Officer, said: “Our first quarter results represented strong performance, particularly in General Insurance, reflecting significant foundational work throughout 2018 to position AIG for sustainable, profitable growth. General Insurance achieved an underwriting profit driven by underwriting and expense discipline, improved business mix and reinsurance actions. We achieved an underwriting profit on a calendar year and accident year basis in the first quarter and we expect that to continue for the full year. Life and Retirement delivered solid performance, benefiting from diversification of product and distribution channels. We expect Life and Retirement to continue to deliver a low- to-mid teens adjusted ROCE, and we expect to reach a double-digit adjusted ROCE for consolidated AIG within three years.”
Scan here to download the app