2008-08-07bloomberg.com

American International Group Inc., the world's biggest insurer, fell 11 percent in early trading after housing-related writedowns wiped out profit for a third straight quarter.

The loss of $5.36 billion, or $2.06 a share, in the second quarter was worse than analysts expected and renewed concern that the New York-based company may need more capital. AIG earned $4.28 billion, or $1.64 a share, a year earlier. The company dropped $3.29 to $25.80 at 8:06 a.m. in New York.


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