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AIG trades up on earnings beat and turnaround

22 February 2013

American International Group (AIG) shares were up strongly in morning trading on the New York Stock Exchange today after the US insurance giant booked better-than-expected fourth quarter results.

At one stage the rehabilitated company's shares were up more than 5 percent before edging back to trade up 2.66 percent at $38.27 at 1650 GMT.

AIG booked after-tax operating profits of $290mn, or $0.20 a share, for the fourth quarter, despite the impact of after-tax Sandy losses of $1.3bn.

Operating profits...

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