The company will no longer give guidance towards achieving its "aspirational goals" in 2015. Announced a couple of years ago, they included three main legs: Achieving ROE of 10%, returning $25B-$30B in capital, and continued investment to improve the franchise.
Which leg is wobbling, asks analyst Josh Stirling on the CC. It's not that, replies CEO Benmosche. As the time draws closer, the company - knowing regulators are listening closely - needs to be careful about the specificity of what it says. Could the reaching of these goals take somewhat longer than hoped? Yes, says Benmosche.
As AIG sells off, one is reminded of last year's Q3 earnings report. The stock tumbled about 5% that day and even more in the days that followed amid a lot of the same concerns voiced today, i.e. that underwriting isn't improving along with company peers. One year later, the shares are ahead by 60%.
Earlier from CC: AIG needs to make Q4 decision about whether to bring ILFC back on its books.