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AIG on track to repay US Government

AIG CEO Robert Benmosche claims the insurer is on track to repay US Government debt within the next few years, following the sale of major insurance assets.

In March, AIG announced the $US35.5 billion ($38 billion) sale of its Asian life unit AIA to Prudential, and the $15.5 billion ($16.7 billion) sale of American life unit Alico to MetLife.

Mr Benmosche says those and other asset sales leave the insurer well positioned to repay obligations to the US Government in the wake of its $US182.3 billion ($196.6 billion) bailout.

International media reports say Mr Benmosche has also indicated he is likely to leave AIG within the next two years. The former MetLife chief was appointed to run AIG in August last year.

Earlier this year AIG reported an annual loss of $US0.9 billion ($11.8 billion), against $US99.7 billion ($107.5 billion) last year.