Boston, MA 05/08/2014 (wallstreetpr) – American International Group Inc (NYSE:AIG) has posted the results for the Q1 of the financial year 2014. The date on which the results were released was May 6, 2014. The company’s performance was reported to be good, but American International has failed to do well on a year-over-year basis. This signifies that the company is not moving forward on the path of growth, progress and success. American International needs to perform better on a quarterly as well as on an annual basis in order to progress.
Financial results for Q1 2014 posted
American International Group Inc (NYSE:AIG) reported the total revenues of the company to come up to a total of $16,112 million, which has fallen by 5% as compared to the Q1 of 2013, which reported $16,962 million as total revenue. The net income that has been posted by the company is $1,609 million, which has fallen by a good 27% as compared to the net income of $2,206 million reported in the last year’s Q1. The diluted earning per share has also declined by 27% from $1.49 in 2013 to just $1.09 in 2014 Q1.
The operating income attributable to the company has also reduced by 10% from $1,1982 million in 2013 Q1 to $1,781 million in 2014 Q1. American International’s operating income per share has been reported to amount to $1.21, which has fallen by 10% as compared to $1.34 of 2013. The company reported the revenues from the insurance operations to be $2,652 million, which has fallen from last year’s $2,992 million.
American International Group Inc (NYSE:AIG) has reported that the 62% of the net premiums earned have been from the businesses that were written after 2008. The company reveals that deposits amounted to a total sum of $7.1 billion were driven by continued solid sales of retail investment products. All in all, it can be concluded that the company reported a strong start at the beginning of this year, even though its performance has declined in comparison to its previous year performance in the same quarter.
