AIG, a net loss of 849 million USD in 2016
The American International Group (AIG) recorded a net loss of 849 million USD in 2016. A year before, the American giant reported a profit of 2.2 billion USD. During the year 2016, the group's indicators were always in the red because of under-evaluation of past losses.
In 2016, AIG proceeded to an important strategic restructuring leading it to save 1.7 billion in operating income.
The group also signed a reinsurance agreement with Berkshire Hathaway in order to transfer part of its risks. Finally, still in 2016, AIG ceded ten of its entities which generated 10 billion USD of cash flow.
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