By Daniel Costello
American International Group reported its second consecutive quarter in the black today, as the rallying credit markets boosted the value of assets on its books and the company took full advantage of accounting rules. The nationalized insurer's main problem these days: it's having a hard time selling insurance.
The company pointed out continued declines in its sales and premiums at some of its main insurance businesses and said it will take a $5 billion charge against results for the fourth quarter. The stock fell nearly 10% in trading.
The government saved AIG last year through a series of bailouts -- worth more than $100 billion -- and owns nearly 80% of the company.
categories: News
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