(Bloomberg) -- AmericanInternational Group Inc. posted its fourth loss in sixquarters, burned again by higher-than-expected claims costs as struggles to sustain profitability.

The net loss widened to $3.04 billion, or $2.96 a share, from a$1.84 billion, or $1.50, a year earlier, the New York-based insurersaid Tuesday in a statement. The fourth quarter’s operating loss,which excludes some investment results, was $2.72 a share, missingthe average estimate in a survey of 18 analysts for a profit of 42cents.

Selling units to free up cash


Hancock is seeking to stabilize results by being more selectiveabout the risks that AIG takes through both insurance underwritingand investing. He has been selling units to free up cash for shareholderbuybacks and to simplify the company while focusing on theincreased use of analytics to gain an edge in specialized lines,such as guarding commercial clients against cyber breaches.

“We took decisive actions in 2016 to dramatically reduceuncertainty and deliver higher quality, more sustainable earningsin the future,” Hancock said in the statement. He reiterated thetwo-year goal from January 2016 to return $25 billion toshareholders, adding that the commitment is “subject to regulatoryand rating agency considerations and future profitabilityimprovements.”

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