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AIG earnings miss projections after fallout from major weather events

Even with one of the costliest hurricane seasons on record, large insurers in the U.S. tended to post third-quarter results that topped Wall Streets estimates. The exception is American International Group Inc.

By Sonali Basak | Updated on November 03, 2017

(Bloomberg) – Even with one of the costliest hurricane seasons on record, large insurers in the U.S. tended to post third-quarter results that topped Wall Street’s estimates. The exception is American International Group Inc.

AIG announced Thursday that its loss for the period was $1.91 a share, deeper than the 79-cent average estimate of 7 analysts surveyed by Bloomberg. Travelers Cos., Progressive Corp. and Allstate Corp., which are more heavily weighted in home and auto insurance, outshined projections. AIG’s stock slipped after the results were announced.

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