Jump to content
House Price Crash Forum
crash2006

Sub-prime Lands Aig With $11bn Write-down

Recommended Posts

American International Group, the world's largest insurer by assets, has produced its biggest-ever quarterly loss as a public company after taking an $11.12bn (£5.63bn) write-down on investments linked to US sub-prime mortgages.

AIG, best known in the UK as the shirt sponsor of Manchester United, reported a net loss of $5.29bn in the fourth quarter compared to a $3.44bn profit in the same period last year as it wrote down guarantees sold to protect fixed-income investors. The losses came as the insurer wrote down the value of credit-default swaps as a result of the US sub-prime mortgage collapse.

http://www.telegraph.co.uk/money/main.jhtm...subprime129.xml

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.