American International Group Inc is expected to post a first-quarter net loss of about $5 billion when it reports results on Thursday, much lower than the record hit it took in the previous quarter, a source familiar with the matter said on Wednesday.

The insurer's net loss is expected to be about $1.80 per share, the source said.

On an adjusted basis, AIG is expected to post a first-quarter loss of about $2.4 billion, which comes to a little less than 90 cents per share, the source said.

AIG could not immediately be reached for comment.

(Reporting by Paritosh Bansal, editing by Maureen Bavdek)

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