American International Group, New York, has reported a net loss of $5.86 billion ($2.06 per share) for the second quarter, compared with net income of $4.28 billion (1.64 per share) a year earlier.

The effect of capital markets unrealized market losses on AIG's super-senior credit default swaps totaled $3.6 billion. Operating losses at its United Guaranty Corp. mortgage insurance subsidiary were $440 million.

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