AIG Inc has reported a net income of $3.68 billion...
AIG Inc reported a net income of $3.68 billion (£2.05 billion) for the first quarter of 2005, up 44.1% from its restated profit for the comparable period in 2004.
The company announced in May this year that, following an internal review of its accounting, it needed to restate its financial results for 2000 through 2004 (BI, May 9). In its restated accounts, AIG recorded profits of $2.56 billion (£1.42 billion) in the first quarter of 2004, vs $2.66 billion (£1.45 billion) before the change.
AIG's president and chief executive officer, Martin J Sullivan, said the first three months of 2005 had been "a good quarter for AIG, with all four of our business segments contributing to the growth in net income".
