CHICAGO: American International Group Inc (AIG) says it’s making progress on a turnaround, but investors aren’t seeing the payoff yet.
Profit in the first quarter declined from a year earlier and fell short of analyst estimates, the New York-based insurer said on Wednesday in a statement. Insurance results were dragged down by catastrophe costs and a decline in net premiums written. Net investment income fell 9% to US$3.3bil.
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