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AIG insurance Pedestrians walk past the American International Group Inc. (AIG) headquarters office in New York. (Photo: Victor J. Blue /Bloomberg)

(Bloomberg) – American International Group Inc. (AIG) fell as much as 5.1% after a slump in income from the insurer’s investment portfolio pushed second-quarter earnings below estimates.

Profit in the period fell from a year earlier as private equity and hedge fund performance weakened, the New York-based insurer said Thursday in a statement. Net investment income declined 12% to $3.1 billion.

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