Niigata Global | AIG Shares Climb.

Online, June 28, 2013 (Newswire.com) - Niigata Global allegedly revealed in a recent investors meeting that AIG's first quarter results included better than expected earnings on the back of higher revenues from its casualty and property unit.

AIG's first quarter beat the market expectations, leading to a 3 percent gain in New York, although revenue came in under the forecast. The casualty and property unit, AIG's largest, saw operating income climb to $1.59 billion, an increase of 52 percent, according to a recent statement from the insurer that repaid its bailout last year.

Niigata Global apparently highlighted that revenue had fallen by 13 percent from the first quarter of last year, coming in at $8.56 billion while earnings per share were also down from the same period, at $1.34, a decline of 18.8 percent. The general market consensus had expected earnings of 92 cents per share on revenues of $8.63 billion.

AIG has divested more than $70 billion in assets since the financial crisis hit in 2008, as Robert Benmosche, AIG's Chief Executive Officer has led a drive to simplify the company and to raise cash stocks.

AIG's results this quarter reflect the depth of our global operations, the market's demand for the products and services we offer, and the strong performance of our investment portfolio, according to a Statement released by CEO Benmosche. He went on to say that their priority this year is to improve operating fundamentals and reduce costs.

Niigata Global reportedly commented that a great deal of energy and time was being dedicated by management to non-core activities. A company this size cannot carry out major readjustments in an instant, however there seems to be a very definite move by AIG to concentrate on their core business.