New York  - Insurer American International Group Inc (AIG), whose near collapse in September fanned the global financial crisis, said Thursday it lost 4.4 billion dollars in the first quarter.

The loss of 1.98 dollars a share, was down from losses of 7.8 billion dollars, or 3.09 dollars per share, in the year earlier period in part because of about 180 billion dollars in government funds. Without the sell off of ailing units, the losses amounted to 5.1 billion dollars.

The US Federal Reserve rescued AIG in September, acquiring some 80 per cent of its shares. (dpa)