Criminal indictments could be brought against US AIG executives, reports said.
A New York grand jury is reportedly investigating possible criminal conduct at the company.
New York attorney general Eliot Spitzer is giving evidence that may result in indictments, reports said.
Spitzer and the US Securities and Exchange Commission (SEC) are both investigating accounting errors at AIG.
Last month Spitzer said a civil resolution could be worked out with the insurance company, implying that an indictment of the whole company was not forthcoming.
But a New York grand jury is now reported to be investigating possible criminal conduct at AIG.
