People exit the AIG building in New York. (AP Photo/Richard Drew)

(Bloomberg) — American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400 senior-level jobs.

The net loss of $231 million, or 18 cents a share, compares with profit of $2.19 billion, or $1.52, a year earlier, the New York-based company said in a statement Monday. Operating income, which excludes some investment results, restructuring costs and expenses tied to the retirement of debt, was 52 cents a share, about half the average estimate of 22 analysts surveyed by Bloomberg.

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