People pass the AIG building, in New York, Tuesday, Jan. 8, 2013. American International Group Inc. said Tuesday its board of directors will weigh whether to take part in a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the insurer. (AP Photo/Richard Drew)
News Summary: AIG slides to a 4Q loss
Published: 11:26:56 PM, Thu 21 February 2013 UTC
BIG LOSS: American International Group slid to a loss in the fourth quarter as the insurer absorbed costs related to damage caused by Superstorm Sandy and the sale of its airplane leasing unit. Still, AIG posted an operating profit that was better than analysts were expecting.
THE NUMBERS: AIG reported a loss of $4 billion, or $2.68 per share, compared with net income of $21.5 billion, or $11.31 per share, in the prior-year quarter, when AIG benefited from a tax-related accounting gain.
PAID OFF: The government sold the last of its stake in the bailed-out company in December.
Tags:
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