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DBCooper
6th August 2010, 08:48 PM
AIG Posts $2.7 Billion Loss, Eyes U.S. Exit Plan


American International Group Inc. swung to a $2.7 billion net loss for the second quarter due to charges associated with a unit that is being sold, but the company's insurance businesses were profitable and showed further signs of stabilization.

The government-controlled company booked a $3.3 billion goodwill impairment charge for a previously announced sale of a large overseas life insurance unit, which dragged AIG's second-quarter earnings into the red. Net loss a share was $3.96, compared with earnings of $2.30 a share in the second quarter a year ago, when AIG posted a $1.8 billion net profit.


http://online.wsj.com/article/SB10001424052748703309704575412961000065530.html?m od=WSJ_hpp_LEFTWhatsNewsCollection