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Stock impact report

AIG quarterly profit tumbles on catastrophe losses, private-equity losses [Yahoo! Finance News]

The Carlyle Group Inc. (CG) 
Last the carlyle group inc. earnings: 4/30 06:40 am Check Earnings Report
US:NASDAQ Investor Relations: ir.carlyle.com
By Suzanne Barlyn) - Insurer American International Group Inc on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.Adjusted after-tax income attributable to AIG common shareholders fell to $571 million in the second quarter ended June 30, from $1.3 billion a year earlier.Excluding items, AIG earned a profit of 66 cents per share compared with $1.43 per share a year earlier, exceeding Factset expectations of 50 cents per share, the company said.Shares of AIG, one of the largest U.S. insurers, rose 3.7% in after-hours trading.AIG posted an underwriting loss of $343 million in its general insurance business, compared with a $147 million profit a year earlier.The loss included $674 million of catastrophes, net of reinsurance, partly reflecting $458 million related to COVID-19 and $126 million for civil unrest claims.A decline in travel during the pandemic affected AIG's travel insurance business.Net adjust Show less Read more
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