AIG posts $8.9 billion loss on charges, reserves

American International Group Inc (AIG.N) reported an $8.9 billion net loss on Friday, hurt by charges related to asset divestments, an increase in commercial insurance loss reserves and an tax-related allowance.

AIG, which is nearly 80 percent owned by the U.S. government, reported a fourth-quarter adjusted net loss of $7.2 billion, or $53.23 per share, compared with an adjusted net loss of $38.5 billion, or $287.69 per share in the year-earlier quarter.

AIG's shares fell 1.9 percent to $27 in premarket trading.