American International Group reported a second-quarter loss of $5.36 billion, attributing the poor results to the weak U.S. housing market and market disruptions.
New York-based insurer AIG reported net income fell from $4.28 billion, or $1.64 a share, in the second quarter of 2007 to a loss of $5.36 billion, or $2.06 a share. Consolidated total revenues dropped 36 percent from $31 billion to $20 billion.
For the six months, net income loss stands at $13 billion, or $5.11 a share, compared to $8.4 billion, or $3.21 a share, for the same period last year. Revenues fell 45 percent from $62 billion to $34 billion.
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