SunAmerica Financial Group is restructuring its life insurance and retirement services divisions as it seizes “a unique time for opportunity, change and growth.”

As it works to stabilize its operations and repay billions in federal bailout funding, American International Group reported $1.5 billion in net income through its core insurance business for the first quarter of 2010.

American International Group reported a fourth-quarter loss of $8.9 billion, a large improvement over the $61.7 billion in loss it reported for the same period in 2008 when its implosion led to a federal bailout.