SmartMoney.com reports here today:
NEW YORK -- American International Group Inc.'s (AIG) third-quarter net income rose 7.5% despite huge catastrophe losses from recent hurricanes and typhoons.Posted by Marcia Oddi at October 21, 2004 07:00 PMThe global insurance and financial-services company also disclosed Thursday that a federal grand jury is investigating a contract between AIG and Brightpoint Inc. (CELL) that was previously investigated by the Securities and Exchange Commission and was resolved in a settlement last September.
AIG said it has been informed by the U.S. attorney for the Southern District of Indiana that the investigation concerns "nontraditional insurance" or "income smoothing" products marketed by AIG.