American International Group (AIG) has registered a net loss of $4bn, or $2.68 per diluted share, for the fourth quarter of 2012 compared to net income of $21.5bn, or $11.31 per diluted share, during the same period last fiscal.
After-tax operating income stood at $290m, or $0.20 per diluted share, against $1.5bn, or $0.77 per diluted share, during the corresponding period earlier year.
AIG Property Casualty division reported an operating loss of $945m, which included $2bn of catastrophe losses from Storm Sandy, compared to operating income of $367m during the year ago quarter.
AIG Life and Retirement operating income stood at $1.1bn in the fourth quarter of 2012, versus $912m during the same period earlier financial year, as results were positively impacted by efforts to actively manage spread income.
Mortgage Guaranty operations registered an operating loss of $45m compared to an operating loss of $25m during the same period in 2011.
AIG’s Other Operations reported fourth quarter 2012 operating income of $260m, against $502m during the same quarter period one year ago.
An international insurance organization, AIG serves customers in more than 130 countries and jurisdictions.