AIG looking to sell all of AIA in Asia Pacific

The fourth-quarter loss is expected to be around US$60 billion, making it the biggest in corporate history.

It has been attempting to sell assets to repay loans to the United States government totalling US$150 billion. Reports out of the United States suggest that AIG is proposing additional ways to reduce its debt to the US government. These would include handing over stakes in some operations directly to the government.

AIG has announced some sales but has found it hard to find buyers and get a good price for its assets amid the financial crisis.

Credit for deals remains difficult to come by due to the crisis and many would-be buyers of its assets are dealing with their own problems.