Profit rise for largest insurer

American International Group, the world’s largest insurer, said third-quarter profit rose 7.5% on fewer investment losses.

Net income was $2.51 billion, or 95 cents a share, compared with $2.34 billion, or 89 cents a year ago, the New York-based insurer said in a press release.

Profit excluding investment losses was 97 cents a share, below the 98-cent average estimate of 21 analysts surveyed by Thomson Financial.