AIG posts 2Q loss of $538M on restructuring costs

By Associated Press
Posted Aug. 6, 2010 at 9:24 a.m.

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 more than 4 percent in morning trading.


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