American International Group Inc. (NYSE: AIG) reported fourth quarter and full year 2013 earnings after markets closed on Thursday. For the quarter, the multinational insurer posted diluted earnings per share (EPS) of $1.34 on revenues of $8.62 billion. In the same period a year ago, the company reported an EPS loss of $2.68 on revenues of $8.61 billion. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.96 and $8.56 billion in revenues.

For the full year, AIG reported adjusted EPS of $6.13 on revenues of $33.95 billion compared with 2012 EPS of $2.04 on revenues of $34.44 billion. The consensus estimate called for EPS of $4.40 on revenues of $33.93 billion.

AIG did not offer guidance for the current quarter or the full year, but the consensus estimates call for EPS of $4.32 on revenues of $35.22 billion.

The company announced a 25% increase in its quarterly dividend and an additional $1 billion in its stock buyback program. As of today AIG has spent $600 million of its previously authorized $1 billion buyback program.

The company’s CEO said:

Our profits illustrate the individual and combined earnings power of all three of our core insurance operations, as well as our ongoing commitment to capital management. With another year of solid performance under our belts, I am confident that we have positioned ourselves for strong growth and profitability in all of our operating businesses. Most importantly, this foundation will enable us to focus our energy on our customers.

AIG announced in December that it had agreed to sell its International Lease Finance Corp. (ILFC) to AerCap Holdings NV (NYSE: AER) for $3 billion in cash and 97.56 million shares of new AerCap stock. The total value of the deal is approximately $5.4 billion.

The company’s quarterly performance was boosted by the lack of huge payouts such as it experienced in the fourth quarter of last year when it made $2 billion in payments to victims of Hurricane Sandy. Payments totaled $208 million in the 2013 fourth quarter.

The company’s shares are trading up 1.35% after hours trading, at $50.26 in a 52-week range of $36.68 to $53.33. The consensus target price for the shares was around $56.70 before today’s report.

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