Benzinga | Aug 4, 2020 03:19PM EDT

Why AIG's Stock Is trading Lower Today

American International Group (NYSE:AIG) shares are trading lower on Tuesday after the company's CEO reportedly announced COVID-19 losses for the first half of the year totaled for $730 million.

American International Group is one of the largest insurance and financial services firms in the world and has a global footprint. It operates through a wide range of subsidiaries that provide property, casualty, and life insurance. Its revenue is split roughly evenly between commercial and consumer lines.

AIG shares were trading down 7.25% to $29.81 at time of publication on Tuesday. The stock has a 52-week high of $58.66 and a 52-week low of $16.07.