AIG reports first profit since 2007

[BunkerHill24]

AIG reports first profit since 2007
Sat, 08 Aug 2009 04:32:35 GMT

Giant insurer American International Group (AIG) has reported its first profit in seven quarters, but warns results will remain volatile.

The insurer, which has received $180 billion of federal aid and is now 80 percent-owned by US taxpayers, said its second-quarter net income was $1.8 billion, or $2.30 per share, its first profit since the third quarter of 2007.

In the year-earlier quarter, AIG lost $5.4 billion, or $41.13 per share. AIG reported a loss of $99 billion last year and $4.4 billion in the first quarter of 2009.


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