AIG’s Profits Beat Expectations, Fueled by Underwriting Gains

American International Group Inc.’s third-quarter profit beat Wall Street’s expectations, increasing year-over-year despite losses from its separation of Corebridge Financial Inc.

Adjusted after-tax income was $1.2 billion — or $2.20 per diluted common share, up 77% year-over-year, the insurer said in a statement Tuesday. This topped the $1.72 average estimate of analysts surveyed by Bloomberg.