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Daily Insurance Industry News
Sunday 18th of November 2018
February 24, 2012

AIG reports strong Q4 and annual results

by Richard Kilner

Story link: AIG reports strong Q4 and annual results

American International Group, Inc (AIG) has reported its results for the quarter and year ended 31 December 2011, including quarterly net income of $19.8bn, compared to $11.2bn in the corresponding period last year and a Q3 2011 net loss of $4.1bn.

Annual net income more than doubled from $7.8bn in 2010 to $17.8bn in 2011, with diluted earnings per share falling from $11.60 to $9.44.

The net income figures include a US consolidated income tax group deferred tax asset valuation allowance release of $17.7bn for Q4 and $16.6bn for 2011.

Quarterly operating income after tax was $1.6bn, compared to a loss of $2.2bn in the same period last year.

On an annual basis after-tax operating income improved from a loss of $898m last year to a positive result of $1.8bn in 2011.

President and Chief Executive Officer Robert H. Benmosche has said that the firm’s profits in Q4 and 2011 as a whole reflected a tremendous effort by everyone at AIG.

 

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