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Corrected: AIG swings to loss, hit by catastrophes and volatile market


By Suzanne Barlyn(Reuters) - American International Group Inc on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market. Excluding realized investment gains and losses and some other items, AIG posted a loss of $559 million, or 63 cents per share, for the fourth-quarter ended Dec. 31, compared with income of $526 million, or 57 cents per share, in the year-ago quarter. On that basis, Wall Street analysts expected income of 42 cents per share, according to IBES data from Refinitiv.AIG shares fell 3 percent ...

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First Published: Thu, February 14 2019. 03:58 IST