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Conseco loses $40M on Lehman, AIG, insurer

September 17, 2008

Carmel-based Conseco Inc. disclosed late yesterday that it hassuffered a $40 million loss on sales of its investments in Lehman Brothers, American International Group and Washington Mutual Inc.

As of yesterday, Conseco still had $103 million invested in the companies.

Wall Street firm Lehman has gone bankrupt; AIG, a giant insurer, is being bailed out by the Federal Reserve Bank, and Washington Mutual, a large Seattle-based thrift, is struggling with mortgage losses.

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