NEW YORK: American International Group Inc (AIG), the largest insurer in the United States, said it lost more than US$5bil in the fourth quarter as bad credit ate into its investments.
AIG has been thrust to the forefront of the credit crisis gripping financial markets by contracts known as credit default swaps.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!