Wednesday, August 8, 2007

American International Group Inc., the world’s biggest insurer, may be sitting on losses of as much as $2.3 billion from securities backed by subprime mortgages, analysts said.

world's biggest insurer, may be sitting on losses of as much as $2.3 billion

American International Group Inc., the world's biggest insurer, may be sitting on losses of as much as $2.3 billion from securities backed by subprime mortgages, analysts said. In a ``worst-case scenario,'' AIG may lose $2.3 billion from its investments in subprime mortgage bonds as well as loans given to borrowers with poor or limited credit, A.G. Edwards Inc. analysts in St. Louis said today in a report. Analysts at Goldman Sachs Group Inc. issued a report today estimating losses of as much as $1.4 billion.

Posted by chris :-)) @ 06:16 PM (404 views)
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