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Market volatility losses drag on AIG's Q1 earnings

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Market volatility losses drag on AIG's Q1 earnings

reportedfirst-quarter after-tax operating income of $773 million, or 65 cents per share,compared with $1.69 billion, or $1.22 per share, in the prior-year period.

The insurerrecorded a net loss attributable to the company of $183 million, or 16 cents pershare, compared with net income of $2.47 billion, or $1.78 per share, in the prior-yearperiod.

AIG attributedmuch of its lower year-over-year results to the impact of market volatility on investments,which cost the company $564 million on an after-tax operating basis, or 48 centsper share. Those investment losses included a $349 million after-tax operating lossin the first quarter from its investments related in hedge funds.

The S&PCapital IQ consensus normalized EPS estimate for the period was $1.00.

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