AIG has reported a third-quarter $US2.4 billion ($2.3 billion) net loss compared to net income of $US455 million ($448 million) in the third quarter last year.

The giant US-based insurer’s loss was due to restructuring and goodwill charges and losses on the sale of assets during the quarter.

CEO Robert Benmosche says AIG is continuing to dispose of assets to recover the 80% share the US Treasury has in the company. The company still owes about $US100 billion ($98.5 billion).

Income from AIG’s insurance operations continues to be solid, with general insurer Chartis contributing $US1.1 billion ($1.08 billion) and life insurer SunAmerica Financial $US978 million ($963.8 million).

Mr Benmosche says Chartis and SunAmerica have “demonstrated their market leadership and are maintaining their discipline” despite soft market conditions and a low interest rate environment.

“We continue to focus on maintaining financial strength and underwriting discipline, improving efficiency and transparency, and better balancing risk and return," he said.