'The core fundamentals were exceptional in a quarter that included the complex accounting treatment of deconsolidation along with prior year divestitures...
- American International Group reported a smaller-than-expected rise in second-quarter profit on Wednesday, hurt by lower underwriting income in its general insurance unit tied to divestitures and higher catastrophe losses .
"The core fundamentals were exceptional in a quarter that included the complex accounting treatment of deconsolidation along with prior year divestitures," AIG CEO Peter Zaffino said in a statement. Meanwhile, insurers investment income has been bolstered by buoyant U.S. equity markets on the back of a steady economy and bets of interest-rate cuts.
Investment Income Commercial Insurers American International Group Underwriting Second-Quarter Profit Insurance Policies
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