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AIG Reports Loss Of 5.4 Billion

Posted on February 15, 2014 in News

The group insurer AIG (American International Group) has reported a further drop in their business considerably beaten by the current global crisis, which joins the mortgage crisis in the United States.

During the period from April to June, the largest insurance company in the world announced a net loss of 5.36 billion dollars, compared with 4.28 billion won just one year ago.

In June, when the initial estimate of the quarter, AIG his dismissal and CEO Martin Sullivan replaced him with Robert Willumstad, who blame the weakness of the housing markets and credit problems for the company.

Certainly one of the most important factors in this fall, was a charge of $ 5.56 billion that AIG had to face in contracts sold to protect investors from losses.