AIG's $173 Billion 'New Deal' With America

The new restructuring, the third such plan, is the next-to-last step on the road to recovery, according to Liddy, giving AIG the flexibility needed to be better positioned to execute the company's divestiture program. Confirming that AIG is not selling the commercial insurance or foreign general insurance, Liddy said that "we expect to announce several key dispositions this year."

He would not provide specific details but confirmed that AIG has a "smart, disciplined, competitive process to sell assets," indicating that as many as 70 different parties were interested but that it must be the "right thing, right time and right way."

"We look forward to making progress on our asset divestiture program," said Liddy, who emphasized that he wanted to "restore confidence in our global franchise."

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