CHARLOTTE, North Carolina (AP) — Beleaguered insurer American International Group Inc. is apparently asking for its fourth loan from the federal government just days before it is expected to report a fourth-quarter loss.

The move could put more of a burden on US taxpayers, as the government has already committed more than $150 billion to AIG.

The New York-based insurer wants to alter its $150 billion government bailout while it continues to look for buyers for some of its operations, according to published reports. Under a proposed plan, the government's primary loan to AIG totalling $60 billion would be repaid with a combination of debt, equity, cash and stakes in operating businesses, according to a story in The Wall Street Journal. The Journal, citing anonymous sources familiar with the discussions, said the sides have been working to revamp the loan since December.

The story came a day after CNBC reported that AIG will soon post a $60 billion loss.

"Nobody knows what the final deal will look like at this point, assuming there is one," said Bob Hartwig, president of the Insurance Information Institute, a New York-based industry group. "What it sounds like is the Treasury and the Federal Reserve are struggling to craft a solution that will prevent additional problems from emanating from AIG and one that minimizes the impact on taxpayers."

AIG spokeswoman Christina Pretto declined to provide specifics about potential losses or changes to the company's government loans, but did acknowledge the insurer is reviewing alternatives with the government ahead of releasing its fourth-quarter results.

"We continue to work with the US government to evaluate potential new alternatives for addressing AIG's financial challenges," Pretto said yesterday. "We will provide a complete update when we report financial results in the near future."

It is expected AIG will report fourth-quarter results in the coming week. The Federal Reserve Bank of New York, which is handling the government loan, declined to comment. The Treasury Department did not return requests for comment.

"They are continuing to report larger and larger losses, but whether they are continuing to lose money is another question," said Morningstar analyst Bill Bergman. "It's possible the losses that already have been incurred are significantly larger than even the numbers that are being rumoured to be reported."

The company reported a third-quarter net loss of almost $25 billion in November.

At that time, the US government restructured previous loans provided to AIG, giving the company about $150 billion in total as part of a rescue package to help the company remain in business amid the worsening credit crisis. That package replaced earlier loans, including its first $85 billion loan back in September, after it became apparent the insurer needed more funds.

The loans, which gave the government about an 80 percent stake in AIG, were meant to buy the insurer more time to sell businesses and repay the government.

However, the deepening financial crisis has made it more difficult to find buyers. "Its future is still highly uncertain in light of the majority ownership by the US government," Friedman, Billings, Ramsey & Co. analyst Bijan Moazami wrote in a note to investors on Friday.

Moazami dropped coverage of AIG, saying the company's predicament is so uncertain that "analysis of AIG is no longer relevant". Problems at AIG did not come from its traditional insurance operations, but instead from its financial services units, and primarily its business insuring mortgage-backed securities and other risky debt against default.

AIG has been in the process of selling assets in an effort to raise more cash to help cover the government loans. Its latest sales might include a deal for its life insurance unit, called American Life Insurance Co. AIG is entertaining bids from MetLife Inc. and Axa SA for American Life, which operates in more than 50 countries, including Bermuda.