AIG received approval earlier this month to provide group insurance coverage to groups of 5 or more individuals in China’s top 3 markets.  This status was upgraded on 5/26/06 to permit issuance of group coverage throughout China.  AIG is the only foreign insurer in China that has not been required to “partner” with a domestic firm.

On 5/10 AIG reported 1st quarter of 2006, net income of $3.2 billion dollars.  Earning of $1.22 per diluted share were down from the $1.45 per share ($3.8 billion) net income of Q1, 2005.

AIG shares jumped 0.92% to 61.47 by the close of Friday’s markets.