Getting your player ready...
NEW YORK — American International Group said Wednesday that higher-than-forecast claims costs cut fourth-quarter profit by $4.1 billion, and $2 billion previously designated to repay its bailout will be used to bolster the property- casualty unit.
The insurer reached an agreement with the Treasury Department permitting the company to keep $2 billion of proceeds from the sale of Star Life Insurance Co. and Edison Life Insurance Co., New York- based AIG said.
