(Bloomberg) – American International Group Inc., the insurer that's been divesting assets to narrow its focus, agreed to sell ski operations at Vermont's Stowe Mountain to Vail Resorts Inc.
AIG will retain majority ownership of the base area, which includes a 312-room lodge, along with a country club and future development rights, according to statements Tuesday from the companies.
The Broomfield, Colorado-based buyer gains a foothold in the U.S. East Coast to complement locations in its home state, Utah and California.
|Simplifying investment portfolio
AIG Chief Executive Officer Peter Hancock has been simplifying the investment portfolio, exiting some volatile hedge fund holdings and reshaping its real estate division. The CEO last year completed the sale of International Finance Centre Seoul in Korea. The Stowe deal fits a pattern of AIG retaining financial ties to divested assets, while leaving some oversight to operators with more specialized management.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
