WASHINGTON (Bloomberg) - The US government's stake in American International Group Inc. (AIG) was worth about $69.5 billion as of October 29, putting the nation's rescue of the insurer on track to earn a profit, the Treasury Department said in a report yesterday.

Based on current market prices, the government "expects to earn a profit on its loans to and investments in AIG assuming the restructuring announced on September 30 is completed", the Treasury said in Washington.

The Treasury is due to own about 92 percent of AIG, or 1.66 billion shares, as the restructuring moves forward and the Treasury takes over the Federal Reserve's bailout role, the department said.