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AIG profit falls 27 pct

May 5 (Reuters) - American International Group Inc posted a 27 percent fall in quarterly profit on Monday, hurt by higher catastrophe losses at its core property and casualty insurance business.

The U.S. insurer's net income fell to $1.61 billion, or $1.09 per share, from $2.2 billion, or $1.49 per share, a year earlier.

On an operating basis, the company earned $1.78 billion, or $1.21 per share.

Analysts on average had expected earnings of $1.07 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figure was comparable.

AIG's shares were up 1 percent in extended trading after closing at $52.72 on the New York Stock Exchange.

(Reporting by Aman Shah in Bangalore and Luciana Lopez in New York; Editing by Saumyadeb Chakrabarty)