May 1 (Reuters) - American International Group ( AIG )

reported lower first-quarter profit on Thursday, as the inferno

that scorched more than 16,000 structures in Los Angeles in

January led to higher catastrophe losses.

The company - one of the world's largest commercial insurers

- posted catastrophe losses of $525 million in the three months

ended March 31, with $460 million related to the wildfires

before reinstatement premiums.

AIG had earlier anticipated net losses from the wildfires to

be roughly $500 million, before reinstatement premiums.

Global insured losses from hurricanes, storms, floods and

other natural disasters could jump to $145 billion in 2025, from

$137 billion last year, reinsurance company Swiss Re

said on Tuesday.

The wildfires, which killed more than two dozen people and

charred an area bigger than Paris, cost the industry $40 billion

in insured losses, Swiss Re added.

Underwriting income was $243 million, a 59% slump from a

year earlier, hurt by higher catastrophe charges.

AIG reported an adjusted after-tax income attributable to

common shareholders of $1.17 per share, compared with $1.25 a

year earlier. Analysts on average had expected 99 cents per

share, according to estimates compiled by LSEG.

GROWING UNCERTAINTY

Insurers are looking at an extended period of uncertainty

sparked by U.S. President Donald Trump's trade war with China.

"While the broader macroeconomic and geopolitical

environment remains uncertain, AIG is navigating these

challenges from a position of strength...," CEO Peter Zaffino

said in a statement.

General insurance net premiums written came in at $4.5

billion, flat from the prior-year quarter on a reported basis,

but increased 8% on a comparable basis, AIG said.

Adjusted general insurance accident year combined ratio - a

measure of underwriting performance - was 87.8% in the quarter,

compared with 88.4% a year earlier. A ratio below 100 signifies

that the insurer earned more from premiums than it paid out in

claims.

Insurance bellwether Travelers beat first-quarter

profit expectations last month as strong underwriting gains

helped soften the hit from more than $2 billion of catastrophe

losses driven by the Los Angeles wildfires.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by

Sriraj Kalluvila)