NEW YORK (Bloomberg) — American International Group Inc., the insurer that agreed to sell assets to repay a federal loan, plans to keep its US commercial coverage and overseas life insurance units, an executive said yesterday.

Kristian Moor, chief executive officer of the New York- based insurer's property and casualty business, discussed the company's plans in a conference call organized by Aon Corp., the largest insurance broker.

AIG CEO Edward Liddy, who was appointed by the government last week, has said he intends to pay off the two-year loan early and that AIG will be "nimbler" after asset sales. The government agreed to extend the $85 billion credit line in exchange for a 79.9 percent stake after the Federal Reserve said AIG's failure would disrupt financial markets.

"If you had a vision of what AIG looked like going forward, at a minimum" there would be the US commercial insurance operations and the foreign life operations, Moor said.

The company's commercial insurance unit has the "same risk appetite" as before, said John Doyle, president of the division, at the conference which was held for risk managers.

AIG may need to sell more than half its businesses to repay the government debt, Credit Suisse Group AG analysts led by Thomas Gallagher said today in a note to investors. The insurer operates in more than 100 countries.

AIG closed up 28 cents, or six percent, to $5 in New York Stock Exchange trading. The stock has more than doubled since September 17 when a lawyer for former CEO Maurice (Hank) Greenberg said he may try to end government involvement in the insurer "as prompt as possible". AIG sold for more than $72 a share in December 2006.

Liddy has told employees that he won't "liquidate" the company and may have a plan for assets sales by next week. AIG also may seek buyers for some of its $16 billion in global real estate holdings in more than 30 countries.

The company could get $115 billion by selling all of its units, Gallagher said. AIG's foreign life insurance division could sell for more than $60 billion before taxes and its US life and retirement companies may fetch $25.2 billion, he said. The aircraft leasing unit could sell for $3.4 billion before taxes, he said.

The insurer may face costs of about $33 billion related to bad investments and credit-default swaps, Gallagher said. The swaps, which back securities linked to subprime mortgages, led to about $25 billion in writedowns over three quarters.

AIG already borrowed $28 billion as of September 17, the Federal Reserve said last week, even though full specifics of the accord with the government haven't been publicly released.