AIG reports steeper 3Q net loss

NEW YORK (AP) ? Insurer AIG has posted a steeper third-quarter loss as declining interest rates and weak stock markets reduced the value of its holdings while it paid out storm losses.

American International Group Inc. reported on Thursday a loss of $4.1 billion, or $2.16 per share, compared with a loss of $2.52 billion, or $18.53 per share a year ago.

The operating loss was $3.04 billion, or $1.60 per share, up from a loss of $114 million, or 84 cents a year ago.

Analysts surveyed by FactSet expected a loss of 22 cents per share.

The company has been paying back the billions of dollars the U.S. government provided in the 2008 bailout and now owes roughly $68 billion.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-11-03-US-Earns-AIG/id-78475ccfed6e41cc9685352dbee37baf

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