The New York insurance company American International Group said its financial services operating income rose 19.4% in the second quarter, to $304.5 million.
Chairman M.R. Greenberg said the increase was a key to the company's 10% gain in total income, to $1.41 billion. For the half, AIG had net income of $2.75 billion, up 11.2%.
"It was a good quarter for AIG overall, with strong results from most of our major businesses and continued progress in firming pricing in the U.S. property-casualty market," Mr. Greenberg said in the earnings report. "Workers' compensation rates are also strengthening, but this remains a difficult class and we continue to be very selective in underwriting workers' compensation business."
AIG's financial services operations are International Lease Finance Corp., AIG Financial Products Corp., AIG Consumer Finance Group, and AIG Trading Group Inc.