Report: AIG to get additional $30B bailout

CHARLOTTE, N.C. (AP) — American International Group Inc. will receive additional federal assistance of up to $30 billion as part of a revamped government bailout, according to media reports Sunday, citing unidentified sources.

The new funding, the fourth government rescue of AIG since September, is intended to support the New York-based insurer as it is expected to announce $60 billion in quarterly losses early today.

Once one of the world’s largest insurers, AIG has already received $150 billion in loans from the government.

Under the new deal, the U.S. Treasury and the Federal Reserve would provide about $30 billion in fresh capital to the insurer.