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Aig Q2 Earnings To Be Reported On Friday Without Usual Call

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AIG To Release Second-Quarter Results Without Call (Update1)

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By Hugh Son

Aug. 4 (Bloomberg) -- American International Group Inc., the insurer rescued by the U.S. government, will release second- quarter results without a conference call this week as Chief Executive Officer Edward Liddy prepares to step down.

AIG, which is scheduled to report earnings before the start of New York trading on Aug. 7, will skip the presentation and question-and-answer session that accompanied results in the past, said spokeswoman Christina Pretto in an interview.

“This is a sensitive firm in a historically significant situation, I think that warrants some discussion,†said Bill Bergman, an analyst at Morningstar Inc. “It’s unfortunate they’re not doing the call like they used to. People are forming some good questions that both investors and the public would like to have answered.â€

Liddy and predecessors Robert Willumstad, Martin Sullivan and Maurice “Hank†Greenberg held regular conference calls to give statements on AIG’s performance and respond to analysts’ questions. Most of the largest publicly traded insurers have quarterly conference calls. Warren Buffett’s Berkshire Hathaway Inc. doesn’t hold such sessions for analysts and investors.

Liddy’s successor, Robert Benmosche, 65, replaces him on Aug.10, New York-based AIG said this week. Benmosche was chairman and CEO of MetLife Inc., the largest U.S. life insurer, for eight years through 2006 and oversaw the transition to a publicly traded business from a policyholder-owned firm.

“We will provide ample information on the quarter in our press release and filings and will respond to questions through our investor-relations and media-relations staffs,†Pretto said in an e-mailed statement.

AIG has posted six straight quarterly losses through March 31 and needed a $182.5 billion U.S. bailout after regulators determined the insurer was too important to fail. AIG is dismantling itself and plans to repay the loan portion of the rescue with proceeds from asset sales.

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net


Why the change of protocol I wonder? ;)

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