AIG stems losses
US insurer AIG reported a net loss in the first quarter of 2009 of $4.35 billion. The result marks an improvement from its fourth-quarter 2008 loss of $61.7 billion, the largest US corporate quarterly loss in history.
Contributing heavily to the loss was a $1.9 billion charge for restructuring costs related to the wind-down of its Financial Products Group (AIGFP), whose losses on credit derivatives ravaged the company to the point of government intervention. In the wind-down effort, AIGFP has
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