NEW YORK (Bloomberg) — American International Group Inc.'s loss of managers to rivals reflects the "failed approach", by US regulators to the bailed-out insurer, ex-chief executive officer Maurice (Hank) Greenberg's firm said.

The US should allow New York-based AIG to rebuild units rather than sell at "fire-sale" prices, Greenberg's CV Starr & Co. said in an e-mailed statement. AIG received a bailout last year that swelled to $182.3 billion to prevent the company's collapse.

Starr, which focuses on the sale of specialised insurance, has hired 13 AIG employees in the past year, the firm said. The statement followed an article by the New York Times outlining how Starr, which controls one of the largest private stakes in AIG, is competing with the company for talent and customers. A greater number of AIG defectors have joined other companies, Starr said, without naming the competitors.

"The reason that employees are leaving AIG has less to do with these other companies, and more to do with the current approach to AIG, which is unlikely to result in the repayment of the American taxpayer," Starr said.