AIG increases third quarter result

NEW YORK - American International Group has reported a 17.8% increase to $1.27bn from $1.08bn in its third quarter net income. The company's revenues also increased throughout the quarter, by $6.6% to $9.64bn from $9.04bn during the same period last year. Over the first nine months of the year, AIG recorded an 18.4% increase to $3.74m in net income and a 13.8% increase to $29.66bn in revenues. The company said the results have been achieved despite catastrophe losses hitting it harder than in previous years.