Insurance giant American International Group reported a $4 billion net loss in the fourth quarter, a period that included heavy losses from Superstorm Sandy, the Associated Press reported yesterday. AIG said that its fourth-quarter loss compared with net income of $21.5 billion in the year-earlier quarter. Pre-tax losses from Sandy were $2 billion. During the fourth quarter, the U.S. Treasury also sold the last of the AIG shares it acquired during the 2008 financial crisis, when the Treasury and the Federal Reserve bailed out AIG to the tune of $182.3 billion. According to AIG, the government has recovered its full investment plus $22.7 billion. Treasury still holds rights to buy additional AIG shares.
