AIG profit lifted by asset sales

AIG logo AIG received a total bail-out of about $182bn during the financial crisis

American International Group (AIG), the troubled giant US insurer, has said it earned $11.18bn (£6.93bn) in the fourth quarter, compared with a year-earlier loss of $8.87bn.

But taking out gains from asset sales it lost $2.21bn on an operating basis, from a $1.34bn loss a year previously.

It also said it was to look at a further sale of its shares this year.

The Treasury currently owns 92% of AIG, after stepping in to bail out the firm and prevent its collapse in 2008.

The total bail-out package has amounted to $182bn.

"We completed several key restructuring milestones in the quarter," AIG's chief executive, Robert Benmosche, said in a statement.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories



BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.