Business

Market Movers

Claims payments hurt AIG in 3d quarter

AIG saw improvement in its core insurance business.

BRENDAN MCDERMID/Reuters

AIG saw improvement in its core insurance business.

Advertisement

New York’s American International Group said its third-quarter net income rose 17 percent as its core insurance business improved. But its property and casualty unit still paid out more in claims than it took in, hitting shares. The insurer earned $2.17 billion, or $1.46, for the period, up from $1.86 billion, or $1.13, a year earlier. AIG received the biggest bailout of the financial crisis five years ago. It has repaid the federal government and has undergone a massive restructuring that cut its size in half. AIG also said it named Monika M. Machon treasurer, effective immediately.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com