American International Group (AIG) has reported that its net income for the third quarter of 2006 was $4.22 billion, compared to $1.75 billion in the third quarter of 2005. Net income for the first nine months of 2006 was $10.61 billion compared to $10.03 billion in the first nine months of 2005.

Results for the first nine months of 2005 included $1.57 billion in catastrophe related losses, net of tax and there have been no significant catastrophes in 2006. President and chief executive officer Martin J Sullivan said: “AIG had a very good quarter led by strong performance in our worldwide General Insurance businesses and improved results in our Life Insurance & Retirement Services operations. We continue to execute our growth strategies by capitalising on our unique global franchise and product and distribution capabilities that distinguish AIG from our competitors.”