Mover Mike

One new area under review involves AIG moving money into and out of hedge funds, in ways that may have been intended to burnish its quarterly reports, a person familiar with the matter said.

Another person familiar with the matter said the expected impact on the company's book value has risen to between $2.5 billion and $2.8 billion, roughly $1 billion higher than its previous top estimate on March 30. That would equate to about 3% of the giant insurer's value.