Insurance company AIG reports losses

One of the world’s biggest insurance company AIG group Inc. registered losses in the current fiscal year and for the first time in the history of the 89 year old company the company made losses to the extend. The AIG stocks went down by 3.8% after the reports of losses were released by the company.

The company officials attributed the losses to the fall in credit market and the company also announced that it is further expecting to go for write-downs in the current fiscal year.