AIG Earns $11B in 4Q on Asset Sales

Bailed-out insurer American International Group Inc (NYSE:AIG) earned more than $11 billion in the fourth quarter as one-time gains for asset sales offset charges to increase its reserves for asbestos and other exposures.

After taxes and on an operating basis, after stripping out the asset sales, AIG said it lost $2.2 billion in the quarter.