American International Group's new chief executive said the insurer plans to keep three core insurance components, but the rest of the company is up for sale if the price is right.

Speaking today during a financial analyst's conference call, Edward M. Liddy, chairman and chief executive officer for the New York-based insurer, said that the company, which as of Sept 30 had drawn $61 billion of the $85 billion credit facility the government has provided, may draw more, subject to need.

The company meanwhile will sell off assets in an orderly way to maximize their value in repaying the government loan, he said.

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