American International Group Inc. revealed on Monday that its net income soared to $3.03 billion in the second quarter of fiscal 2022 from $91 million recorded in the same trimester the previous year. Net income per diluted share attributable to AIG common shareholders surged from $0.11 to $3.78 in the three months that ended June 30, 2022.
"General Insurance [unit] reported outstanding results and Life and Retirement [unit] again delivered a solid performance considering the significant market headwinds in the second quarter. Due to the high degree of equity market volatility in May and June, we decided to defer the launch of the Corebridge Financial initial public offering (IPO)," Chairman and CEO Peter Zaffino commented in the press release.
AIG's shares moved up 0.82% in in late trading after the report was released.
