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Summary Box: AIG's posts $3.2B profit in 1Q

Associated Press Published: May 3, 2012
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BIG PROFIT: Insurer AIG said its first-quarter profit advanced more than twofold to $3.2 billion, compared with earnings of $1.3 billion a year earlier. On an adjusted basis, AIG's profit was $3.1 billion versus net income of $2.1 billion in the year-ago quarter.

UNITS UP: AIG's gains were driven mainly by improved performance at its Chartis and SunAmerica insurance units, and its aircraft leasing business.

BIG VALUE: The company recorded a $1.3 billion increase in the fair value of its interest in an investment vehicle formed by the Federal Reserve Bank of New York following the 2008 financial crisis.