The beleaguered insurer American International Group has agreed to suspend payments to executives from a $600 million bonus fund as well as $19 million in payments to its former chief executive, the New York attorney general announced on Wednesday.

The moves are the latest steps in an effort by the attorney general, Andrew M. Cuomo, to prevent bonuses and other compensation to former executives at A.I.G., which in recent weeks has received tens of billions of dollars in loans from the Federal Reserve.

“There should not even be any contemplation of bonuses for executive performance because I find it hard to conceive of a situation that you could justify a performance bonus for management that virtually bankrupted the company,” Mr. Cuomo said on a conference call with reporters on Wednesday afternoon.

Regulators and lawmakers have pointed to A.I.G. as an example of excessive greed in corporate America. Although the Treasury Department is imposing limits on compensation to the most highly paid executives at companies that receive government aid, the limits do not address compensation paid in the past or under pre-existing employment contracts.