AIG stems losses

US insurer AIG reported a net loss in the first quarter of 2009 of $4.35 billion. The result marks an improvement from its fourth-quarter 2008 loss of $61.7 billion, the largest US corporate quarterly loss in history.

Contributing heavily to the loss was a $1.9 billion charge for restructuring costs related to the wind-down of its Financial Products Group (AIGFP), whose losses on credit derivatives ravaged the company to the point of government intervention. In the wind-down effort, AIGFP has re

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: