American International Group Inc. swung to a profit with second-quarter net income of $1.8 billion compared to a net loss of $2.7 billion for the second quarter a year ago.

Robert H. Benmosche, president and CEO of AIG—the beneficiary of a $182 billion bailout from the government in order to avoid collapse in 2008—tells CNBC that AIG has "turned the corner and our crisis is over."

Benmosche reiterated the point during a conference call Aug. 10 to discuss earnings. "We're independent of government support. Overall, we're in great shape."  

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.