Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of insurer AIG (NYSE: AIG) perked up today, gaining as much as 10% in intraday trading on heavier-than-average volume.

So what: AIG announced today that it has locked down $4.3 billion in private-market funding to replace the loans from the Federal Reserve Bank of New York. The loans are coming from 36 banks including Bank of America, JPMorgan Chase, Citigroup, and Goldman Sachs and are split between a $3 billion facility for AIG and a $1.3 billion facility for AIG subsidiary Chartis. The loan commitments are another key step for AIG as it continues its trek to regain financial market trust and return to being a fully private company.

Now what: It's been an exciting time for AIG lately as it not only has been making moves to get Uncle Sam off its back, but people involved with the company are starting to talk about growth again. At this point, the stock still trades at multiples below AIG's historical valuations -- though it's highly questionable whether the post-bailout AIG will be much like the pre-bailout company. We've seen savvy investors continue to build stakes in the company, but we've also seen the stock soar this year (it's nearly tripled since its February lows). If I were a betting man, I'd say we'll probably see some more upside action as the company continues to make progress toward paying back the government. But as far as the company being a solid, long-term investment, I think that's still a big question mark.

Want to keep up to date on AIG? Add it to your watchlist.

The Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.