AIG Loses Its Position as Industry Leader by Market Value

By Lilla Zuill
Reuters News Service

Fears that American International Group Inc.'s large mortgage exposure could trigger another round of losses has rankled investors so much that the insurer has lost its iron grip as the world's industry leader by market value. AIG's shares have tumbled more than 70 percent over the past year. Including steep declines this week, AIG's valuation has fallen to about $47 billion from roughly $175 billion a year ago, leaving it trailing such companies as AXA SA , with a market value of about $65 billion, according to Reuters data.

For the rest of the story, visit Insurance Journal (www.insurancejournal.com)