February 13, 2019 / 9:19 PM / 2 months ago

AIG posts loss as market volatility hits investment income

Feb 13 (Reuters) - American International Group Inc posted a fourth-quarter adjusted loss on Wednesday, as the insurer’s net investment income fell 18 percent due to volatility in the financial markets.

The company posted an adjusted loss of $559 million, or 63 cents per share, for the quarter ended Dec. 31, compared with an adjusted profit of $526 million, or 57 cents per share, a year earlier.

Total net investment income fell to $2.8 billion from $3.5 billion a year ago.

Net pre-tax catastrophe loss of $798 million was near the upper end of its expected range due to claims related to Hurricane Michael and the California Wildfires. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Anil D’Silva)

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