The world's largest insurance company American International Group (AIG) 8 published report said that due to credit default swaps and the loan-to-business losses, the first quarter of this year the group loss of 7.81 billion U.S. dollars. After the earnings release, AIG shares in the New York stock market fell in after-hours trading, its stock rating agency Fitch lowered, and so on.
The first quarter, AIG loss equivalent to 3.09 U.S. dollars per share, a year earlier to 1.58 U.S. dollars per share (a total profit of 4.13 billion U.S. dollars), analysts expected a loss per share of 76 cents a share. And many other financial services companies, like, AIG in the credit crisis has been severe impact, in the fourth quarter of the group were over 11 billion U.S. dollars of assets write-down.
First quarter of this year, AIG Credit default swaps in the loss reached 9.11 billion U.S. dollars; investment for the loss of 6.09 billion U.S. dollars, mostly from mortgage-backed securities losses mortgage insurance losses 352 million U.S. dollars.
Quarter of the group insurance business with the same period last year on the whole balanced, the premium income of 12.08 billion U.S. dollars, comprehensive cost rate from 87.52 percent a year earlier rose to 96.86 percent. Comprehensive cost for the claimed amount and rate of expenditure and the total premium ratio, a measure of insurance profitability of an insurance company the most commonly used indicator, the indicator is less than or equal to 100% of that business is profitable.
The first quarter, AIG loss equivalent to 3.09 U.S. dollars per share, a year earlier to 1.58 U.S. dollars per share (a total profit of 4.13 billion U.S. dollars), analysts expected a loss per share of 76 cents a share. And many other financial services companies, like, AIG in the credit crisis has been severe impact, in the fourth quarter of the group were over 11 billion U.S. dollars of assets write-down.
First quarter of this year, AIG Credit default swaps in the loss reached 9.11 billion U.S. dollars; investment for the loss of 6.09 billion U.S. dollars, mostly from mortgage-backed securities losses mortgage insurance losses 352 million U.S. dollars.
Quarter of the group insurance business with the same period last year on the whole balanced, the premium income of 12.08 billion U.S. dollars, comprehensive cost rate from 87.52 percent a year earlier rose to 96.86 percent. Comprehensive cost for the claimed amount and rate of expenditure and the total premium ratio, a measure of insurance profitability of an insurance company the most commonly used indicator, the indicator is less than or equal to 100% of that business is profitable.
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