New York Attorney General Andrew Cuomo says American International Group created 73 millionaires with bonuses of $US1 million or more last year.
The top recipient was paid more than $US6.4 million, and the top 10 received a total of $US42 million. In total, the bonuses amounted to $US165 million.
Mr Cuomo said on Tuesday that 11 executives who received retention bonuses, including one who got $US4.6 million, no longer work at the company.
He said the money went to executives in an AIG subsidiary whose performance led to crushing losses and brought AIG close to collapse.
Mr Cuomo is investigating whether or not the bonuses were paid fraudulently under New York law and has asked for the names and amounts.
He offered the details to the chairman of the House of Representatives Committee on Financial Services in Washington on Wednesday.
A Treasury official said the government will modify a planned capital injection of $US30 billion for the company to try to recoup the bonuses.
AIG has received $US180 billion in federal funding to stay in business.
