NU Online News Service, Feb. 25, 2:11 p.m. EST

While American International Group reported a net profit of more than $11 billion, its property and casualty subsidiary Chartis came in with an underwriting loss of $5.2 billion, primarily because of its reserve charge.

Earlier this month, New York-based insurer AIG announced it would take a $4.1 billion charge in the fourth quarter to bolster its reserves. Today, the company reported its fourth quarter and year end results, showing a greater underwriting loss than last year.

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