LOS ANGELES (AP) — American International Group Inc. is expected to report a loss in the fourth quarter, reflecting more than $1 billion in losses related to insurance policy payouts in the aftermath of Superstorm Sandy. AIG will report its latest financial results on Thursday after the market closes.
WHAT TO WATCH FOR: The extent of the loss due to Superstorm Sandy, and whether AIG expects to see more losses carry over into the first quarter.
In December, AIG estimated it would book $1.3 billion in losses related to the storm in the fourth quarter. Sandy made landfall on Oct. 29, spreading a swath of devastation that affected New York, New Jersey, Connecticut and eight other states.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
