American International Group president and CEO Robert H.Benmosche has tried to tamp down expectations AIG set for2015 when it offered stock to the public again in May 2011.

Benmosche called the company's third-quarter results“solid,” but he told analysts during a third-quarter earningsconference call that AIG continues to seek to achieve the so-calledaspirational goals but “we're not sure whether we'll get them doneby 2015.”

During previous earnings calls Benmosche has set goals fora 10 percent ROE, annual earnings per share growth in themid-teens, capital of between $25 billion and $30 billion,and a combined ratio of between 90 and 95 for its P&Cunit. Benmosche and other company executives have assuredanalysts during prior quarterly calls that the company was on trackto reach the goals.

But on Nov. 1 Benmosche backed off, saying he was going to stopproviding specifics on progress toward the objectives because soonit will be considered ”guidance.”

“We feel that comments going forward are more like guidancerather than the direction we're all working toward,” saysBenmosche. “I do want you to understand we are committed to them,we're working hard to get there, and we'll get there as quickly aswe can.

“When we get closer to 2015 you're going to ask us to be alittle bit more specific and instead of an aspiration it becomes wewill achieve something around this in this period of time,” heexplained to analysts. “And that would be guidance, and that's whatwe're concerned about.”

AIG officials say P&C rate increases forglobal commercial lines were 3.4% and the North Americanmarket continues to lead rate improvement with a 5.5% rate increasein the third quarter. Improvements in P&C profits weredriven by accident year loss ratio improvements and lowercatastrophe costs, as well as the fact that AIGP&C operations didn't need to add reserves for insurancewritten in prior years.

U.S. casualty operations led with a 7.3 percent rateincrease while U.S. financial lines increased 5.8% and U.S.property increased 9 percent, P&C CEO Peter Hancocksaid.

P&C net premiums written for grew 3 percent on anormalized basis. “This growth is consistent with our expectationsfor 2013, as we continue to be disciplined in our underwriting andopportunistic in our pricing actions,” Hancock said.

Hancock said AIG was consolidating its Japanese businesses,which comprises a large part of AIG's personal linesP&C business. Hancock said Japan is, “by far, thelargest consumer operation we have,” and it is a “large and stablebook-of-business, but it's not growing that fast, obviously, withthe demographics in Japan as they are.”

He said the company is integrating its Fuji Fire and Marine withits AIU business, which will reduce overhead costs, as well as anintegration of many capabilities which will improve the expensepicture on the whole.