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AIG swings to a loss in first quarter 

May 05, 2011By

American International Group, Inc. [stock AIG][/stock] swung to a loss in the first quarter, as the firm repaid debts to the Federal Reserve and relinquished catastrophe funds. The New York-based insurance company reported a loss of $543 million, or $1.41 a share, down from a profit of $359 million, or $2.16 cents a share, a year earlier. Revenue fell 6% to $17.44 billion in the three months ended March 31, down from $18.56 billion a year prior.

3d rendering of a row of luxury townhouses along a street

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