AIG Hits 14-Month Low as Insurer Has ‘No Investor Constituency’
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American International Group Inc., the bailed-out insurer, fell to the lowest in more than a year, as investors bet the U.S. Treasury Department may struggle to find buyers for the rest of its shares.
The insurer dropped 36 cents, or 1.3 percent, to 27.65 at 4 p.m. in New York Stock Exchange composite trading, the lowest closing price since March 9, 2010. AIG plunged 43 percent since Dec. 31, the biggest decline in the Standard & Poor’s 500 Index.