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AIG posts Q4 $3.04 billion loss — burned by claims costs

AIG posted its fourth loss in six quarters.

By Sonali Basak, Lisa Du | Updated on February 15, 2017
AIG posted its fourth loss in six quarters. (AP Photo/Richard Drew)

(Bloomberg) – American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as  struggles to sustain profitability.

The net loss widened to $3.04 billion, or $2.96 a share, from a $1.84 billion, or $1.50, a year earlier, the New York-based insurer said Tuesday in a statement. The fourth quarter’s operating loss, which excludes some investment results, was $2.72 a share, missing the average estimate in a survey of 18 analysts for a profit of 42 cents.

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