American International Group, the embattled insurance group, has received the latest in a series of subpoenas from US regulators as it struggles to put its troubles, which have already resulted in a $126m (€97.2m) settlement, behind it.

The latest subpoenas from the office of Eliot Spitzer, the New York state attorney general, and the Securities and Exchange Commission, the US regulator, surround policies that may help companies smooth earnings.