AIG reports $4.4 bn loss

May 8th, 2009 - 6:31 am ICT by IANS  

New York, May 8 (DPA) Insurer American International Group Inc (AIG), whose near collapse in September fanned the global financial crisis, said Thursday it lost $4.4 billion in the first quarter.
The New York-based insurance giant said it lost $4.35 billion, or $1.98 per share, during the quarter ended March 31, compared with $7.81 billion, or $3.09 per share, during the same quarter last year.

AIG lost $61.7 billion during the fourth quarter - the most ever in a quarter by a US corporation - amid the mushrooming credit crisis and shortly after its near collapse.

The US Federal Reserve rescued AIG in September, acquiring some 80 percent of its shares.

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