AIG Jumps on Surprise Operating Profit as Investments Gain
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American International Group Inc., the insurer that repaid a U.S. bailout, gained in early trading as fourth-quarter results beat analysts’ estimates after investments drove a surprise operating profit.
AIG jumped 3.8 percent to $38.70 at 7:40 a.m. in New York. Operating profit was 20 cents a share, beating the average estimate for a loss of 8 cents in a Bloomberg survey of 17 analysts. The net loss was $3.96 billion, driven by claims from superstorm Sandy and costs tied to a deal to sell the plane-leasing unit, New York-based AIG said yesterday in a statement.