The United States is planning its fourth round of aid to the American International Group, the giant insurer. The government already owns nearly 80% of the insurer’s holding company.

The federal government agreed Sunday night to provide an additional $30bn in taxpayer money to AIG and loosen the terms of its huge loan to the insurer, which is preparing to report a $62bn loss on Monday, the biggest quarterly loss in history, people involved in the discussions said.

New York Times