The National Underwriter, a leading insurance news organization reported today that American International Group Inc. had a 51% increase in net income for the second quarter.
Reuters made the suggestion that AIG’s positive results were a stimulus to help pricing of all U.S. stocks. AIG, based in New York, is reporting approximately $4 billion in net income for the last quarter with $27 billion in revenue. This is up from $2.7 billion of net income on $23 billion in revenue for the same quarter in 2004. Peter Streit, at Williams Capital Group in New York, described the second-quarter results as outstanding.
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