Three large U.S.-based property-and-casualty insurers were unable to post third-quarter profits, with The Hartford stating its net income was flat and American International Group (AIG) and Liberty Mutual Group both reporting net losses.
AIG reported a third-quarter loss of $4.1 billion—the company’s worst since 2009—driven by declines in equity markets, widening credit spreads and lower interest rates.
AIG in 2010 posted a $2.5 billion third-quarter net loss.
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