Meanwhile, the company reported that its insurance business is also struggling. In the first quarter, AIG paid out a greater amount on losses and expenses in its property and casualty operations than it brought in with premiums. Its combined ratio rose to 96.9% in the period, up from 87.5% last year.
The results led ratings agency Standard & Poor's to downgrade AIG's credit rating, suggesting that raising dividend payments to shareholders may wind up costing them more in borrowing costs in the future. Fitch Ratings also knocked down AIG's credit rating.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,409.38 | 1,102.66 | 2,194.53 | 34.82 |
Oil *
71.93
|
|
UP
72.33
|
UP
6.72
|
UP
10.80
|
UP
0.59
|
10 Yr
3.48%
SPDR Gold
110.89
|
|
+0.70%
|
+0.61%
|
+0.49%
|
+1.72%
|
Data delayed 20 minutes |
