A top executive at American International Group Inc has resigned because of pay curbs imposed by the Obama Administration's pay czar, the insurer announced on Wednesday.

Anastasia Kelly, AIG's vice chairman for legal, human resources, corporate affairs, and corporate communications resigned effective December 30 for good reason under the terms of the insurer's executive severance plan.

Kelly's resignation comes after Kenneth Feinberg, who is charged with monitoring pay levels at companies that received taxpayer funds, imposed pay caps for AIG's top executives.

The insurer also announced that Suzanne Folsom, chief compliance and regulatory officer, has left to pursue other opportunities.

It said it has already begun looking for successors for both officials.

(Reporting by Steve Eder, Paritosh Bansal; Editing by Gary Hill)