NEW YORK (Reuters) - Bailed-out insurer American International Group lost more than $2 billion in the third quarter as charges for the discount sale of its consumer finance unit offset growth in its general insurance business.
AIG had warned in August that the sale of a majority stake in American General Finance to Fortress Investment Group would lead to a $1.9 billion pretax loss. Although the sale price was not disclosed, it was characterized as a "very small fraction" of the value of the business.
AIG reported a third-quarter loss of $2.4 billion, or $17.62 per share, compared with a year-earlier profit of $455 million, or 68 cents per share. Besides the American General Finance loss, AIG also took two charges of more than $1 billion each, for goodwill and tax items.
Operating results, stripping out extraordinary items and discontinued operations, came in at a loss of $200 million, or $1.47 per share.
The two analysts reporting estimates to Thomson Reuters I/B/E/S given earnings-per-share forecasts of 58 cents and $1.35.
(Reporting by Ben Berkowitz; Editing by Lisa Von Ahn)
