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Insurance major AIG reports profit decrease in fourth-quarter earnings

As per latest reports, the New York based insurance service provider American International Group Inc (AIG) reported lower than anticipated income in the final quarter on Thursday.

The company reported a decay of 67 percent in its net income to USD 655 million,as compared to USD 2 billion, a year earlier.

On Thursday, the shares of AIG declined 1.6 percent at USD 51.62.

The organization also reported a dividend of USD 0.125 an offer and permitted the repurchase of shares worth about USD 2.5 billion.