The outlook remains mixed for American International Group following the first financial results reported in the aftermath of investigations that have led to the ouster of company pioneer Maurice Greenberg, analysts said.
The 50 percent increase in net income impressed observers particularly in the wake of the drag on domestic life sales and capital markets operations following continuing inquiries by state and federal regulators into AIG accounting and business practices.
A.G. Edwards analyst Paul Newsome expressed concern about press reports that Mr. Greenberg tried to cover up records sought by the New York Attorney General Eliot Spitzer. "It has become clear to us that the regulatory issues will be long lasting for AIG."
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