The government has restructured its bailout package of American International Group. It will commit another $30bn to the insurer from the Troubled Asset Relief Programme, according to the New York Times.

AIG may be permitted to exchange some of the government’s preferred non-voting shares, carrying a 10% dividend, for new shares that pay no dividend. Some of AIG's debt will be converted to equity in two of the insurer's Asian subsidiaries while other debt will pay a lower interest rate, the Times said.

The company is due to report fourth-quarter and full year 2008 earnings on March 2 at 6am Eastern Time, with a conference call at 8.30am. Its fourth-quarter loss could be $60bn, according to news reports.

• AIG earnings release
• AIG release on US aid

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