SAM Magazine-New York, Sept. 23, 2008-Appearing on the CNBC business news channel on Monday, AIG chairman and CEO Edward Liddy declared his intention to focus the company on its core insurance business and to have an asset list of for-sale items within seven to 10 days-and perhaps to begin divesting itself of these items in that time frame as well.

Liddy said the company is eager to retain its many insurance clients, adding that the company will make sure they are well treated. His statements would seem to indicate that AIG, the insurer behind the Willis MountainGuard program, will remain in the business of insuring winter resorts. As many news reports have noted, AIG's insurance businesses have remained strong and profitable. For its part, Willis has been renewing policies and promoting its coverage in a "business as usual" mode.

As for Stowe Mountain Resort, it will soon be clear whether it will be put up for sale to raise cash. However, it doesn't appear to fit Liddy's criteria for sale. "We're going to take those assets which are probably very valuable, but can also be digested by buyers in relatively manageable bites, and we will simply start to market them," Liddy said in the CNBC interview.

Assets that do meet those criteria include AIG's aircraft leasing unit, International Lease Finance Corp, and its large U.S. life insurance and annuity arm American General.

AIG would be a smaller firm after the expected asset sales, focusing on its traditional strengths in property-casualty insurance and its international business, especially in Asia, Liddy noted.

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