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AIG Reports Profit, But P&C Business Still Struggling

American International Group reported net income of more than $1.8 billion for the second quarter of this year--the first time the troubled New York-based company has shown a profit since the third quarter of 2007.

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American International Group reported net income of more than $1.8 billion for the second quarter of this year–the first time the troubled New York-based company has shown a profit since the third quarter of 2007. However, AIG’s property and casualty units are still struggling to overcome a tough economy, a soft insurance market and the reputational challenges facing its corporate parent.

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