Insurer AIG closes $20 billion capital raising

NEW YORK, May 22 (Reuters) - American International Group (AIG.N: Quote, Profile, Research, Stock Buzz), said on Thursday said it raised $20 billion with its sale of equity, debt and convertible securities.

The world's largest insurer, in a statement, said it raised far more than the $12.5 billion it initially planned due to "strong demand."

AIG earlier this month said it would raise capital to strengthen its balance sheet, after posting a record $7.8 billion quarterly loss.

(Reporting by Lilla Zuill, editing by Leslie Gevirtz)