Operating income ex-items of $0.96 per share is off 3% from a year ago.
Cash dividend paid by P&C and Life units to parent of $1.9B. Repurchased about 4M shares for total of about $192M, and redeemed $500 of debt. Issued $1B of debt. AIG Parent cash and liquid investments of $16.9B.
P&C Income of $1.04B up 33% as underwriting losses fell 69% to just $135M - combined ratio improves to 98 from 100.1. Premiums written fell 1% as reported, gained 3% excluding fx effects.
Life & Retirement operating income of $1.14B up 38% with inflows up $3B from a year ago helping to boost fee income. Net investment income of $2.47B falls 5%.
Mortgage Guaranty operating income of $43M vs. $3M a year ago as pre-property bust business fades further from view. New insurance written of $14.4B up 34%. Net premiums written of $272M up 24%.
Book value per share (excluding AOCI) of $62.68 vs. $60.59 a year ago.
CC tomorrow at 8 ET.
AIG -2.7% AH.