American International Group reported second-quarter results that surpassed Wall Street expectations, roughly two months after Eric Andersen took over as chief executive officer.

Strong underwriting boosted the insurer’s after-tax operating earnings per share to $2, up 10 per cent from a year ago, according to a statement. That exceeded the $1.91 average estimate of analysts surveyed by Bloomberg.

Net investment income totalled about $1.1 billion, down 23 per cent from a year earlier, in part from reduced fair value of its investment in Corebridge Financial. AIG sold its remaining stake for about $710 million in May.

On an adjusted pretax basis, net investment income was down 5 per cent from a year earlier to $908 million.

“AIG delivered another strong quarter, marking an exceptional first half of the year and underscoring the benefits of our diversified global portfolio and continued momentum from organic growth and our recent strategic transactions,” Mr Andersen said in a statement.

Outgoing CEO Peter Zaffino made a series of strategic moves before stepping down from the role on June 1.

The year prior, the insurer purchased renewal rights from Bermudian-based Everest Group for a $2 billion premium retail insurance book and bought a stake in Bermudian specialty re/insurer Convex Group.