AIG posts $61.7B 4Q loss
CHARLOTTE, N.C.–American International Group is reporting that continued financial market turmoil has resulted in a large fourth-quarter loss.
Monday's results come as the U.S. government is announcing a restructuring of a bailout plan for the troubled insurer, extending $30 billion (U.S.) in additional aid to the company.
New York-based AIG, once the world's largest insurer, said Monday it lost $61.7 billion, or $22 fast payday loans.95 per share, after a loss of $5.3 billion, or $2.08 per share, a year ago.
The latest results include $7.2 billion in unrealized losses and credit valuation adjustments at AIG Financial Products, the source of credit-default swaps, and pretax losses of $21.6 billion tied to the declining value of AIG's investment portfolio.
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