AIG loses $7.81bn in Q1, to raise $12.5bn
Global insurer American International Group has reported a net loss for the first quarter of 2008 of $7.81bn and unveiled plans to raise $12.5bn in additional capital.
AIG blamed “the continuation of the weak US housing market, the disruption in the credit markets, as well as equity market volatility”, for the massive write-down, which saw book value per share
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