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Article: AIG showing some signs of improvement; Rebranding efforts under way as names change to Chartis.(NEWS)(American International Group Inc.)(Financial report)
- Article from:
- Business Insurance
- Article date:
- November 9, 2009
- Author:
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Byline: COLLEEN McCARTHY
American International Group Inc. last week reported a double-digit drop in revenues at its core insurance units, as the parent company announced its second consecutive quarterly profit.
Despite signs of improvement in AIG's overall financial position, the drop in insurance revenues could weaken the firm's franchise as it attempts to separate and ultimately spin off the insurance units, analysts say.
AIG reported a third-quarter profit of $455 million compared with a loss of $24.47 billion in the same period in 2008. For the first nine months of this year, AIG reported a $2.08 billion loss, a major improvement from the ...