American International Group, Inc., says its total insured losses from Superstorm Sandy will come to approximately $2 billion.
The announcement, made after the markets close today, says the preliminary figure is pre-tax and net of reinsurance. After tax and net of reinsurance, AIG is putting the approximate total of loss at $1.3 billion.
AIG says in a statement that it expects to make a capital contribution to its U.S. property and casualty insurance subsidiaries of $1 billion from existing, readily available funds.
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