The global insurance juggernaut known as the American International Group is in trouble. AIG, the biggest insurance company in the world, has lost $7.81 billion in the first quarter of 2008, according to its most recent financial report.

This lost comes on the heels of the unfortunate year of 2007, when the company’s stock went down from $70 per share to less than $60 per share. Presently, a share of AIG sells for only slightly above $40 on the New York Stock Exchange. To be exact, its stock went down recently by an entire 2.1% to $44.15 a share, and then decreased by an extra 7.6% during after-hours trading to its present worth of $40.80 a share.