AIG 4Q Loss Narrows After 2008 Record

American International Group Inc. (AIG) posted a nearly $9 billion fourth-quarter loss as the troubled insurance giant continued to be hammered by investment write-downs and divestment charges.

The results were a significant improvement from the year-ago period when AIG reported a $62 billion quarterly loss, the biggest in the company's history. But shares of the giant government-controlled insurer were down 7.4% at $25.38.

The company's report gave little encouragement regarding prospects for its insurance business, or the possibility it may require additional government support. There also wasn't much confidence about the value of its share price, of which the government controls $49.6 billion worth of preferred stock.

Read Full Article from Wall Street Journal

- Posted: 2010-02-26 11:23:44

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