AIG Says Pandemic ‘Catastrophe’ Puts Dent in Travel Business

American International Group Inc. is feeling more pain from the pandemic.

The insurer, which took a $272 million hit in the first quarter from claims related to Covid-19, reported an additional $458 million of costs tied to the pandemic in the three months ended June 30. The crisis has also hurt sales of travel insurance and increased mortality rates in the life insurance operation.

“Covid-19 remains a formidable, and ongoing, catastrophe,” Chief Executive Officer Brian Duperreault said Tuesday in an earnings call discussing second-quarter results. “AIG continues to show remarkable strength and resiliency, ” and the impact on different business ...