American International Group Inc. (AIG) reported a net loss for the first quarter of 2009 of $4.35 billion or $1.98 per diluted share, compared to a net loss of $7.81 billion or $3.09 per diluted share in the first quarter of 2008. First quarter 2009 adjusted net loss, excluding net realized capital gains (losses) and FAS 133 gains (losses), net of tax, was $1.60 billion, compared to an adjusted net loss of $3.56 billion in the first quarter of 2008.

According to A.M. Best, chairman and CEO Edward Liddy spoke with equity analysts, saying "The loss we have reported was substantially—I repeat, substantially lower than the last quarter—that's the fourth quarter of 2008, and also lower than the first quarter or 2008. We have a good plan in place, and our job now is to execute on that plan."

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access