AIG Derivatives Loss
American International Group Inc., one of the world's largest insurance companies, said Wednesday its net income fell nearly 16% in Q1 YOY despite strong performance in its general insurance unit.
Income was down in the asset management unit, and financial services reported a loss of $159 million after an accounting adjustment for derivatives and hedging activities.
AIG stock fell 5.20% on the news. Who says derivatives aren't a time bomb waiting to happen?
Income was down in the asset management unit, and financial services reported a loss of $159 million after an accounting adjustment for derivatives and hedging activities.
AIG stock fell 5.20% on the news. Who says derivatives aren't a time bomb waiting to happen?
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