NEW YORK (AP) — AIG CEO Robert Benmosches says he plans to stay in his job at the embattled insurer.

American International Group Inc. has released a letter Benmosche sent to employees yesterday following a Wall Street Journal report that said he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government oversight and cumbersome restrictions on executive pay.

The CEO told employees that he and the company's board "remain totally committed to leading AIG through its challenges".

AIG is under close government scrutiny after receiving a bailout package worth up to $182.5 billion from the overnment in exchange for an 80 percent stake in the company. That bailout package also includes restrictions on compensation for the insurer's 100 highest-paid employees.

Benmosche took over as CEO three months ago.