Insurer American International Group lost more than $4 billion in the third quarter, as its aircraft leasing unit took an impairment charge on a portion of its fleet and the fair value of the company's one-third stake in Asian insurer AIA fell.
It was the 10th time in the last 15 quarters, dating to 2008, that AIG lost at least $1 billion.
Shares fell 3.2 percent in after-hours trading after the company announced its financial results, then rebounded a bit after AIG said it would launch a $1 billion share buyback.
AIG's core insurance businesses were profitable on an operating basis, and its mortgage insurance unit both raised prices and gained market share amid difficulties in that industry.
But those results were not enough to overcome the charges, which were partially driven by declining equity and debt markets during the quarter.
AIG reported a loss of $4.11 billion, or $2.16 per share, compared with a year-earlier loss of $2.52 billion, or $18.53 per share. In the year-earlier period AIG took a number of charges on asset sales; it also had a smaller share count.
On an operating basis AIG lost $3.04 billion, or $1.60 per share http://goo.gl/FXJx5
