AIG Sees Acquisition Opportunities

October 27, 2000

American International Group posted a 14.6 percent rise in third-quarter profits Thursday. Meanwhile, the company’s chairman raised the possibility of insurance acquisitions across the world. Net income for the third quarter, including net realized capital gains increased 9.3 percent to $1.39 billion, compared to $1.27 billion in the third quarter of 1999.

For the first nine months of 2000, net income totaled $4.14 billion, an increase of 10.6 percent, compared to $3.74 billion in the same period of 1999. The results met analysts’ average profit forecast as polled by First Call/Thomson Financial.

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