AIG recorded $309M of impairments in 2012 to add to $312M in 2011 due to death benefits payments...

|By:, SA News Editor
AIG recorded $309M of impairments in 2012 to add to $312M in 2011 due to death benefits payments as people lived longer than expected. So-called life-settlement contracts are the opposite of traditional life insurance and cost the compay more as people live longer. AIG has made clear it's not focusing on expanding the business. Shares -0.5% premarket.