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AIG posts $11 b loss
International New York Times
Last Updated IST

To increase its reserves to pay future claims, the company set aside $2.7 billion on a pretax basis, accounting for a big portion of its loss. This indicates that AIG is experiencing significantly larger claims than it expected when it sold the insurance, most of it more than seven years ago, long before its government rescue in late 2008.

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(Published 27 February 2010, 21:41 IST)