Agence France-PresseFebruary 21, 2013 18:00
US insurance giant American International Group on Thursday said it swung into loss in the 2012 fourth quarter, taking a pummeling from superstorm Sandy and a unit sale.
AIG reported a $4 billion net loss in the October-December quarter, compared with $21.5 billion in net income in the year-ago period.
Per share, the fourth-quarter loss was $2.68; a year ago it had $11.31 earnings per share.
The massive storm Sandy that ravaged the heavily populated Northeast in late October resulted in a pre-tax "catastrophe loss" of $2 billion.