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AIG REPORTS DAMAGE FROM HURRICANE ANDREW, TYPHOON OMAR AND HURRICANE INIKI

 AIG REPORTS DAMAGE FROM HURRICANE ANDREW, TYPHOON OMAR
 AND HURRICANE INIKI
 NEW YORK, Oct. 21 /PRNewswire/ -- American International Group, Inc. (NYSE: AIG) (AIG) announced today that the insured net losses relating to Hurricane Andrew have remained relatively unchanged from its original estimate. The estimate for Typhoon Omar has increased by approximately $10 million from that originally reported. Hurricane Iniki, which was not included in the original report, will add about $35 million net to the quarter's catastrophe losses. Hence the third quarter will be impacted by approximately $150 million of hurricane and typhoon losses in total.
 M. R. Greenberg, Chairman of AIG, said "As a result of these major catastrophic losses, earnings for the quarter ended Sept. 30, 1992 should be somewhat lower than those reported for the same quarter last year. However, we expect earnings for the nine months will be above those of the prior year."
 AIG expects to announce its third quarter 1992 results on Thursday, Nov. 5, 1992.
 AIG is the leading U.S.-based international insurance organization and the nation's largest underwriter of commercial and industrial coverages. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
 -0- 10/21/92
 /CONTACT: Charlene M. Hamrah (investors), 212-770-7074, or Joe Norton (media), 212-770-3144, both of AIG/
 (AIG) CO: American International Group, Inc. ST: New York IN: INS SU:


SH -- NY097 -- 2987 10/21/92 14:37 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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