AIG posts loss on debt, earthquake charges

By @ibtimes on

Bailed-out insurer American International Group posted a loss from continuing operations in the first quarter as it recorded a charge of more than $3 billion related to its recapitalization and termination of its credit facility from the Federal Reserve.

The company also racked up $864 million in catastrophe losses related to the March 11 earthquake in Japan.

AIG reported a loss from continuing operations of $1.18 billion, or a loss of $1.41 per share, compared with a profit on the same basis a year earlier of $2.09 billion, or $2.16 per share.

The report was heavy with figures. AIG posted a loss from continuing operations, a net income figure, a third figure for net income attributable to the company, a fourth figure for net income attributable to common shareholders and a comprehensive loss attributable to the company.

(Reporting by Ben Berkowitz)

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