AIG said its third quarter profits increased by 27% compared with the same period in 2002. It said higher insurance rates had helped the growth in profit.
AIG said it earned US$2.34bn, or 89 cents per share in its third quarter, compared with US$1.84bn, or 70 cents per share in 2002.
In addition to growth in premiums in its commercial and life insurance lines, AIG said it had enjoyed strong growth in China and Japan, and that its overall investment losses had shrunk.
General insurance premiums rose by 26.5% in the third quarter, to US$8.97bn.
AIG chairman and chief executive Maurice Greenberg said: "Looking ahead, we are reasonably confident that rate sin a many classes of business that AIG specialises in will remain firm for the rest of the year and well into next year."
