AIG has sold the last of its shares in Hong Kong-based AIA for $US6.45 billion ($6.2 billion), bringing total returns from the sell-down to $US35 billion ($33.67 billion).

It began the process in 2010 to repay a $US182 billion ($175 billion) bailout received from the US Government in 2008.

Shortly before the final AIA share deal, the US Treasury sold the last of its AIG stock, making a profit on its investment.

AIG launched a national advertising campaign entitled “Thank you, America”, expressing gratitude for the bailout.

However, the board then had to consider whether to join a $US25 billion ($24 billion) lawsuit launched by former CEO Maurice Greenberg alleging the US Government misused AIG funds to bail out the financial system.

It decided against joining the case, with CEO Robert Benmosche saying: “A deal is a deal. We have to move forward.”

The AIA sale ends a relationship between the two companies that began in 1919 – but it does not mean AIG has exited Asia.

In December it bought $US500 million ($481.01 billion) of stock in the People’s Insurance Company of China when the state-owned insurance giant listed 16.7% of its capital on the Hong Kong stock exchange.