NU Online News Service

Executives with American International Group said the first-quarter losses the insurer suffered may not see a turnaround soon, as the housing credit crisis that affected earnings is expected to continue for a while.

Speaking during a financial analyst's conference call today, Steven J. Bensinger, vice chairman-financial services, said the credit crisis that has hit the nation and caused a $15.2 billion write-down for the insurer is "expected to continue for some time," and the economic stress "is not over."

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.