Insurer AIG narrows 4th-qtr loss as it continues restructuring, paying back government loan

AIG narrows 4Q loss, continues restructuring

CHARLOTTE, N.C. — AIG says it lost $8.87 billion in the fourth quarter as it paid down some of the billions of dollars in bailout loans it received from the government.

The results were an improvement from the $61.7 billion it lost in the year ago period, but they were worse than analysts expected. They also followed two straight profitable quarters.

Investors weren’t happy with AIG’s news, and bid its stock down nearly 13 percent in pre-opening trading.

New York-based American International Group Inc. said Friday it lost $65.51 per share in the last three months of 2009.

On average, analysts surveyed by Thomson Reuters forecast a quarterly loss of $3.94 per share.