On May 13, the government-installed head of AIG told U.S. Congress that the insurance giant is selling many of its foreign assets to repay U.S. taxpayers, but lawmakers questioned whether the plan makes sense and demanded details.

American International Group chief executive Edward Liddy said the company has reduced, but not eliminated, the risk its failure could pose to the global economy despite getting more than $180 billion in federal bailout aid.

Liddy agreed to provide portions of AIG's “Project Destiny” restructuring plan to the House Oversight and Government Reform Committee, but said details are sensitive and could hurt the company's ability to sell assets.

While AIG is working to divest assets, Liddy said, it doesn't intend to sell them at fire-sale prices. The company plans to retain its U.S. property-casualty and foreign general insurance businesses, and a stake in its foreign life insurance operations.