Business

AIG profit lifted by asset sales

AIG logo
Image caption AIG received a total bail-out of about $182bn during the financial crisis

American International Group (AIG), the troubled giant US insurer, has said it earned $11.18bn (£6.93bn) in the fourth quarter, compared with a year-earlier loss of $8.87bn.

But taking out gains from asset sales it lost $2.21bn on an operating basis, from a $1.34bn loss a year previously.

It also said it was to look at a further sale of its shares this year.

The Treasury currently owns 92% of AIG, after stepping in to bail out the firm and prevent its collapse in 2008.

The total bail-out package has amounted to $182bn.

"We completed several key restructuring milestones in the quarter," AIG's chief executive, Robert Benmosche, said in a statement.

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