crash2006 Posted February 29, 2008 Share Posted February 29, 2008 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 Quote Link to comment Share on other sites More sharing options...
Dubai Posted February 29, 2008 Share Posted February 29, 2008 Crash.... How do you find all this "good news"?? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.