American General Corp. had net income of...

American General Corp. had net income of $117.5 million in the first quarter, down considerably from $152.7 million in the year-ago quarter. Operating income also fell sharply--to $112.8 million from $147.9 million. The Houston-based insurance and financial services company’s statement showed that its biggest declines were in its property-liability insurance and in its mortgage/real estate segments while its group life-health insurance segment posted a loss. Interest expenses also increased considerably, the report showed.