AIG Profits Up; Life, Overseas Units Grow

February 9, 2001

American International Group Inc. saw quarterly operating profits rise 16 percent during the fourth quarter, matching Wall Street forecasts as earnings from worldwide life and overseas general insurance operations grew.

AIG’s fourth-quarter profits, excluding realized investments, rose to $1.528 billion, or 65 cents per share, from $1.318 billion, or 56 cents per share, in the year-earlier quarter. Overall revenues increased by 14 percent to $12.51 billion, with the company’s main units — general insurance, life insurance, asset management and financial services — posting higher profits.

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