As if saving the insurance company from collapse was not enough, it seems American International Group Inc., (AIG) will report a first-quarter loss of $5 billion tomorrow, an unnamed insider reported to Bloomberg today.

This report is both good and bad news as it beats the fourth-quarter loss posted by AIG last March, when the total loss was of nearly $62 billion. But AIG’s quarterly report, due tomorrow, is of high importance to Wall Street regulators and crucial to the financial system; as it could be the signal that companies on the bailout’s TARP package appear to be gaining ground against losses.

AIG stock (AIG) climbed $0.11 to $1.84, rising 33% overall this week.

This is the sixth straight unprofitable quarter from AIG, tipping the company’s losses to over $100 billion.

Via: Bloomberg