American International Group's chief executive says that he is "pretty comfortable" the bailed-out insurer will be able to repay the U.S. government before the 2013 expiration of its credit line.
Robert Benmosche told Reuters that selling AIG unit AIA to Prudential PLC and Alico to MetLife will bring the company to a point at which it can begin formal discussions with the government about an exit.
The insurer agreed earlier this month to sell foreign life insurance unit American Life Insurance Co for about $15.5 billion. The sale of AIA to Britain's Prudential for $35.5 billion is "going well," Benmosche said Thursday.
Separately, the CEO said he understands the outcry over compensation paid to AIG employees in 2009.
"The fact is, we have a lifeline from the government," he said.
The Fed credit line is due to be repaid by Sept. 16, 2013, five years after it was granted.
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