AIG reports $4.4 bn loss
May 8th, 2009 - 6:31 am ICT by IANSNew 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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Tags: aig, american international group, american international group inc, bn, collapse, credit crisis, dpa, federal reserve, first quarter, fourth quarter, global financial crisis, insurance, insurance giant, insurer, international group inc, quarter ended march, us federal reserve
