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AIG: Net Is Up, Bad Ratings Barely Hurt

American International Group management, after reporting a first-quarter 44 percent jump in net income, said today that rating firm downgrades had only a minor ...

By Susanne Sclafane | Updated on February 11, 2005

American International Group management, after reporting a first-quarter 44 percent jump in net income, said today that rating firm downgrades had only a minor impact on the insurer.

With results restated for prior first quarters, the New York-based insurer said it had first-quarter net income of $3.68 billion, or $1.40 per share, compared to $2.56 billion, or 97 cents per share, in the first quarter of 2004.

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