Private negotiations said to be close to reaching agreement

AIG has almost settled its dispute with its former chief executive Maurice "Hank" Greenberg, the Wall Street Journal reports.

The insurer may pay any penalties and future legal fees in Greenberg's case with New York Attorney General Andrew Cuomo, the newspaper said.

A deal could also include the resolution of a $1bn claim AIG has against Greenberg and another former AIG executive in a civil lawsuit, the WSJ reported.