AIG Reports $231M Loss Amid 'Restructuring'

American International Group on Monday reported a $231 million loss in the third quarter, compared to $2.2 billion in net income for the same period of 2014. The carrier said the net loss was primarily due to lower income on hedge fund investments, assets marked to fair value through earnings, lower realized investment gains and lower income from settlements of litigation. AIG noted that it is in the midst of restructuring to simplify its organization and create operation efficiency. Once those changes are made it expects annual savings of $400 million to $500 million. "Further sta...