American International Group on Thursday made a bailout repayment of $2.15 billion to the US Treasury, reducing its outstanding balance to right around $56 billion. The Treasury confirmed the payment, saying the money came from AIG's selling of its Nan Shan Life Insurance Co. in Taiwan.
AIG has now repaid about $11.4 billion of the $68 billion in bailout assistance it received at the height of the financial crisis. Treasury officials, meanwhile, sold about 200 million shares of the insurer in May, reducing taxpayers' stake in the company from 92 percent to 77 percent. Government officials have stated on numerous occasions that they expect to recoup the full amount of the AIG bailout.