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AIG Falls as Profit Hurt by Underwriting Slump, Charge
- Shares decline as insurer’s turnaround seen taking some time
- CEO says insurance underwriting results are improving
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American International Group Inc. fell 2.7 percent after second-quarter earnings came in below estimates as a restructuring expense hurt results.
Profit in the period fell from a year earlier as private equity and hedge fund performance weakened, the New York-based insurer said Thursday in a statement. Net investment income, which declined 12 percent to $3.1 billion, is on target for the year, the company said.