AIG's disclosure sends wave of fear through markets

02/12/2008 | Financial Times (free content) · Reuters

The American International Group has increased its estimate of mortgage-related losses in October and November from about $1 billion to almost $5 billion. The insurance company's announcement about the revised figures drove down shares of European insurance firms. S&P analyst Catherine Seifert said AIG would "have an extremely difficult time regaining investor confidence."

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Financial Times (free content) · Reuters

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