AIG Plunges as Sales Decline at Main Units: New York Mover
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American International Group Inc., the bailed-out insurer, plunged the most since March after sales declined at its largest units.
First-quarter sales at Chartis, which insures commercial property, corporate boards and airplanes, fell 3.8 percent to about $8.82 billion as the company sought to pare risks, AIG said yesterday in a statement. Premiums, deposits and other considerations at the SunAmerica life insurer dropped about 13 percent to $5.6 billion on declines from fixed-annuity contracts amid low interest rates.