NEW YORK (AP) — American International Group's net income rose 27 percent in the second quarter as its property and casualty and life insurance business brought in more revenue.

During the quarter, AIG repaid all the loans it owed to the Federal Reserve as part of the financial rescue measures it received in 2008 and 2009.

AIG earned $2.33 billion, or $1.33 per share, versus $1.84 billion, or $1 per share, in the same period a year ago. Analysts surveyed by data provider FactSet were expecting the company to earn 58 cents per share in the quarter.

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