Insurance giant AIG, which was last month bailed out by the US Federal Reserve, is to sell off assets outside its core insurance business.
The decision means its AIG general insurance business in Ireland is unaffected and will continue to operate as usual.
The programme of disposals is aimed at repaying a $61 billion loan from the Federal Reserve Bank of New York. The US Federal Reserve last month agreed to a loan of up to $85 billion to stave off collapse at AIG.
'AIG plans to retain its US property and casualty and foreign general insurance businesses, and to retain a continuing ownership interest in its foreign life insurance operations,' a statement said.
