08 May,2009 06:44 AM IST | | IANS
Insurer American International Group Inc (AIG), whose near collapse in September fanned the global financial crisis, said Thursday it lost $4.4 billion in the first quarter.
The New York-based insurance giant said it lost $4.35 billion, or $1.98 per share, during the quarter ended March 31, compared with $7.81 billion, or $3.09 per share, during the same quarter last year.
AIG lost $61.7 billion during the fourth quarter - the most ever in a quarter by a US corporation - amid the mushrooming credit crisis and shortly after its near collapse.
The US Federal Reserve rescued AIG in September, acquiring some 80 percent of its shares.
