AIG displays 1 q loss on rescue recovery, quake Japan

NEW YORK--the reimbursement of the aid of rescue and losses caused by the earthquake and the tsunami that followed that ravaged the northeast coast of the Japan led to a loss in the first quarter to American International Group Inc..

The global insurance Thursday said a loss, after payment of preferred dividends of $ 543 million, or 35 cents per share. That compared to a net profit of 359 million dollars, or $2.66 per share, a year earlier.

Revenues fell to 17.44 $ 18.56 billion billion last year.

The loss is essentially linked to AIG booking a charge of $ 2.4 billion in its reimbursement of a New York Federal Reserve Bank ready more two years earlier. During this time, British company Chartis, his business in property-casualty recently reorganized, posted $ 1.7 billion in losses from the disaster of March 11 earthquake disasters and the tsunami in the Japan, the New Zealand earthquake and massive floods in Australia. It was up to 500 million dollars in losses from disaster ended first quarter.

AIG also set aside $ 385 million to pay for the costs associated with the sale of its Treasury shares. Operating profit, however, increased by $ 2.0 billion for the quarter of $ 637 million in the period of the previous year.

The increase in the value of its investments, its portfolio of capital markets earned $ 277 million. Its life insurance company, SunAmerica Financial Group, said a flat operating income of $ 1.1 billion.

In March, AIG paid Department of the Treasury almost 7 billion to trim its balance at 60 billion dollars to rescue some 182 billion in 2008, as the Government of the United States rescued him from the fall. The Department of the Treasury still has 92% of AIG, through its common shares of the company, which it is planned to start selling in May. The Treasury officials have said they expect to recover the full amount of rescue.

Since 2008, AIG has sold 33 companies and raises over $ 57 billion in cash and in titles. Last year alone, AIG has raised more than 37 billion, mainly by selling two international divisions of life insurance.

AIG stock fell 46 cents to 30,33 $ after normal hours of business following the publication of the report of the remuneration. The stock had closed the regular session, 85 cents, or 2.7 per cent, to $30.79.