AIG sets $40mn Nico gain, $100mn Ogden charge for Q1

AIG will report a $40mn first-quarter benefit reflecting a
portion of a nominal pre-tax deferred gain of $2.6bn that resulted
from its retroactive reserve reinsurance deal with Berkshire
Hathaway's National Indemnity Company (Nico), announced in
January.
The $40mn represents the addition to pre-tax operating income
for the quarter from amortizing the deferred gain, the company said
today. The amortization period started 3 February when the deal
officially closed.
The amount will be reported unde