AIG's Hancock says company eager to buy back shares

May 31 (Reuters) - Bailed-out insurer AIG has a "great appetite" to buy back shares from the U.S. Treasury with potential proceeds from investment and asset sales, the chief executive of the company's Chartis property insurance unit said on Thursday.

In a presentation at a Sanford Bernstein conference in New York, Peter Hancock said it was likely the Federal Reserve would ultimately become the company's regulator, and that the Fed would probably urge AIG to proceed cautiously on long-term plans for share buybacks and the like.