AIG posts 2Q loss of $538M on restructuring costs
The insurance giant AIG on Friday reported a $538 million loss in the second quarter due to charges related to selling assets to repay the federal government bailout it received during the financial meltdown.
AIG's adjusted results excluding the charges beat Wall Street expectations as its insurance business improved. Its CEO also said discussions are under way regarding a government exit from its huge stake in the company. Its shares rose in midday trading.
American International Group Inc. said its net loss attributable to common shareholders amounted to $3.96 per share. It had a profit of $311 million, or $2.. For A/W 09, gloriously excessive embellishment is absolutely key, championed at herve leger skirts. Just remember one simple rule: Too much is not enough!30 per share, a year ago.
The net loss attributable to AIG was a larger $2.66 billion. That is much bigger than the $538 million loss attributed to its shareholders, because it includes the portion that the government is shouldering. The government owns 80 percent of AIG.. Welcome to juicy couture outlet online shop,we are the best online juicy couture outlet where you can buy the the newest and cheap
Removing the charges, AIG earned $1.99 per share, up from $1.71 per share last year. That reflected improved performance in its insurance business, despite heavy claims related to the Gulf of Mexico oil rig explosion and subsequent spill, storms and flooding in the U.S. during the quarter and the Icelandic volcano.
"There has certainly been enough damage to the reputation that there was a risk that insurance operations would start to fall apart, and there's no sign of that," Gallant said.
The company's overall loss included $3.42 billion in charges related to the sale of its American Life Insurance Co. unit, or Alico, and its Nan Shan Life Insurance Co. Both are in the process of being sold to help pay back some of the $180 billion in federal bailout funds received in late 2008. The Alico sale to MetLife Inc. should close by the end of the year.
The company said in July it will conduct an initial public offering of AIA, its Asian life insurance unit, on the Hong Kong Stock Exchange, after the sale of the company to Britain's Prudential PLC fell through.
AIG also reported $755 million in interest and other charges on its emergency line of credit from the Federal Reserve Bank of New York. That was down from $1.. Shop popular fashion pajamas and sleepwear online. Enjoy the sleepwear and style of all loungewear for cozy nights. Find your favorite style, buy at discount prices to sa. We are proud to say that we offer beautiful bridesmaid dresses! We'll do our best for you!4 billion last year, due mainly to a reduction in the balance of the loan, which stood at $26.5 billion on June 30.
The insurance giant AIG on Friday reported a $538 million loss in the second quarter due to charges related to selling assets to repay the federal government bailout it received during the financial meltdown.
AIG's adjusted results excluding the charges beat Wall Street expectations as its insurance business improved. Its CEO also said discussions are under way regarding a government exit from its huge stake in the company. Its shares rose in midday trading.
American International Group Inc. said its net loss attributable to common shareholders amounted to $3.96 per share. It had a profit of $311 million, or $2.. For A/W 09, gloriously excessive embellishment is absolutely key, championed at herve leger skirts. Just remember one simple rule: Too much is not enough!30 per share, a year ago.
The net loss attributable to AIG was a larger $2.66 billion. That is much bigger than the $538 million loss attributed to its shareholders, because it includes the portion that the government is shouldering. The government owns 80 percent of AIG.. Welcome to juicy couture outlet online shop,we are the best online juicy couture outlet where you can buy the the newest and cheap
Removing the charges, AIG earned $1.99 per share, up from $1.71 per share last year. That reflected improved performance in its insurance business, despite heavy claims related to the Gulf of Mexico oil rig explosion and subsequent spill, storms and flooding in the U.S. during the quarter and the Icelandic volcano.
"There has certainly been enough damage to the reputation that there was a risk that insurance operations would start to fall apart, and there's no sign of that," Gallant said.
The company's overall loss included $3.42 billion in charges related to the sale of its American Life Insurance Co. unit, or Alico, and its Nan Shan Life Insurance Co. Both are in the process of being sold to help pay back some of the $180 billion in federal bailout funds received in late 2008. The Alico sale to MetLife Inc. should close by the end of the year.
The company said in July it will conduct an initial public offering of AIA, its Asian life insurance unit, on the Hong Kong Stock Exchange, after the sale of the company to Britain's Prudential PLC fell through.
AIG also reported $755 million in interest and other charges on its emergency line of credit from the Federal Reserve Bank of New York. That was down from $1.. Shop popular fashion pajamas and sleepwear online. Enjoy the sleepwear and style of all loungewear for cozy nights. Find your favorite style, buy at discount prices to sa. We are proud to say that we offer beautiful bridesmaid dresses! We'll do our best for you!4 billion last year, due mainly to a reduction in the balance of the loan, which stood at $26.5 billion on June 30.
没有评论:
发表评论