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(Bloomberg) — American International Group Inc., the largest commercial insurer in the U.S. and Canada, said profit rose 1 percent in the first report under Chief Executive Officer Peter Hancock.

Net income climbed to $2.19 billion, or $1.52 a share, in the third quarter, from $2.17 billion, or $1.46, a year earlier, New York-based AIG said today in a statement. Operating profit, which excludes some investing results, was $1.21 a share, beating the $1.09 average estimate of 24 analysts surveyed by Bloomberg.

Hancock, 56, took over from Robert Benmosche at the start of September. He’s reshaped management after the departure of life-unit CEO Jay Wintrob, and is also working to improve margins at the property-casualty operation by expanding the use of science in underwriting.

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