AIG Revises Earnings Up After Accounting Change

NEW YORK — American International Group Inc. has revised its earnings for the last two years to reflect an accounting change.

In a regulatory filing Thursday, the New York insurance company said it amended its financial information for 2011 and 2010 after adopting a different accounting standard for deferred acquisition costs.

The change raised AIG's profit last year to $20 billion from $17 billion.

For 2010, revised net income was $10 billion instead of the previously reported $7.79 billion.

AIG shares fell 30 cents to $32.29 in afternoon trading. The stock has gained 39 percent so far this year.