American International Group Inc. in New York announced Wednesday that its net income had grown 19.1% last year, to $11.05 billion or $4.19 per share, compared with $9.27 billion or $3.52 per share the year earlier.
Net income, excluding realized capital gains and the cumulative effect of accounting changes, was $11.46 billion or $4.35 per share, compared with $10.22 billion or $3.88 per share in 2003.
Full-year, after-tax net catastrophe losses from hurricanes, typhoons, earthquakes, and tsunamis were $682.7 million or 26 cents per share, compared with after-tax net catastrophe losses of $46.2 million or 2 cents per share the year earlier.
A final settlement with the Securities and Exchange Commission, Department of Justice, and U.S. Attorney for the Southern District of Indiana regarding transactions with Brightpoint Inc. and PNC Financial Services Group Inc. required an after-tax charge of $53 million or 2 cents per share last year.
Net income for 2004 - excluding realized capital gains, the cumulative effect of accounting changes, catastrophe losses, and the settlement charge - grew 18.8%, to $12.19 billion or $4.63 per share, compared with $10.26 billion or $3.90 per share in 2003.
