American International Group, after delaying its third quarter report, said today that net income for the period fell 36 percent, or $968 million, from $2.7 billion, or $1.02 a share last year to $1.7 billion, or 65 cents a share.
The company said its combined ratio in the third quarter deteriorated to 112.24 from 101.31 for the period last year. It logged $1.57 billion in catastrophe losses for the period this year.
New York-based AIG, which delayed its results for five days, said net income results were based, in part, on net premium earned on general insurance of $10.1 billion, compared to $9.9 billion for the same period last year.
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