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Update: “Survivor” AIG posts 2nd straight profit
06 November 2009
The rehabilitation of AIG, the insurer bailed out by the US government, continued as it posted its second consecutive quarter of profits, helped by the stabilisation of credit markets.
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[AIG]
[American International Group]
[quarter]
[profits]
[Benmosche]
[credit markets]
The rehabilitation of American International Group, the insurer bailed out by the US government, continued as it posted its second consecutive quarter of profits, helped by the stabilisation of credit markets.
Net profit was $455m, or $0.68 a share, compared with a loss of $24.47bn in the same quarter in 2008.
The result follows a profit of $1.8bn in the last quarter, which was the first quarterly profit AIG had posted since the third quarter of 2007.
However, in many...
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