The change was prompted by the government decision to acquire 79.9% of AIG in return for a 2-year, $85 billion loan.
The composition of the Dow industrials was last changed in February, when Bank of America and Chevron replaced former Kraft parent Altria Group and Honeywell International.
AIG has been in the industrial average since April 1, 2004.
John A. Prestbo, editor of Dow Jones Indexes, said the change was “forced by the effective nationalization of AIG and its very low stock price.”