The insurance behemoth’s turnaround plan is still a work in progress. AIG falls six spots on the Fortune 500 after its revenues shrank more than 4% in 2018, in part because it made less money from investing as the stock market swooned late in the year. While the insurer still took a $6 million overall loss last year, that figure was minor compared to its losses in previous years, and the company is moving closer to profitability. Still, a string of catastrophic events, from Japanese typhoons and hurricanes Michael and Florence to California’s fires and mudslides, helped push AIG into the red.
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