AIG to Post Loss, But Won't Need More Help

The insurer is expected to report a first-quarter loss Thursday, but AIG's results won't trigger a new capital injection from the U.S. government, reports say.
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American International Group

(AIG) - Get Report

is expected to report a first-quarter loss Thursday, but the insurance company's results won't trigger a new capital injection from the U.S. government, according to reports.

The first-quarter loss is expected to be significantly narrower than the record fourth-quarter loss of $61.7 billion, according to a source,

Reuters

reports. It would be the company's sixth consecutive quarterly loss.

The quarterly report would be the first since AIG's bailout from the U.S. government in September in which taxpayers weren't asked for more cash to stabilize the company,

Bloomberg

reports.

AIG couldn't be reached for comment from

Reuters

.

The U.S. government provided AIG with an $85 billion loan in September. As market conditions worsened and losses piled up at the insurer, the government revised and expanded its loan package to AIG several times. The package of loans now totals nearly $180 billion after being expanded in March when AIG reported the largest ever quarterly corporate loss in U.S. history.

As part of the loan package, the government also has taken a roughly 80% stake in the insurance company.

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