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AIG's credit protection costs rise after loss-Markit

Thu Aug 7, 2008 8:36am EDT

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NEW YORK, Aug 7 (Reuters) - The cost of insuring American International Group's (AIG.N) debt with credit default swaps rose on Thursday after the world's largest insurer posted its third consecutive quarterly net loss.

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Five-year credit default swaps on AIG traded at about 267 basis points, or $267,000 a year to protect $10 million of debt, up from about 249 basis points before AIG's results late on Wednesday, according to data from Markit Intraday. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio) (dena.aubin@thomsonreuters.com; +1-646-223-6325; Reuters Messaging: dena.aubin.reuters.com@reuters.net))
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