Catastrophe losses stood at $1.57 billion, compared to $512 million for both the quarter and nine months in 2004. Without the catastrophe losses, AIG said its combined ratio in the quarter would have stood at 91.61, compared to 93.87 for the same period last year.

The company delayed reporting its third quarter results after announcing it would restate results and earnings going back to 2001. The restatement was made primarily to address errors related to its accounting of derivatives.

During an analyst's conference call today, Martin J. Sullivan, AIG's president and chief executive officer, said the company is continuing to resolve accounting problems it discovered earlier this year after questions by state and federal officials arose over its use of finite reinsurance programs.

He said the carrier would continue to make corrections as they are discovered. Mr. Sullivan said he was not aware of any additional reasons for restatements at this time. He expects that the current auditing, which could result in additional corrections, would be completed by the end of this year.

On the company's performance, Mr. Sullivan said AIG performed well, despite the catastrophes. He noted that premium earnings were affected by higher reinsurance premiums following Hurricanes Katrina and Rita this year, and the softening market that persisted through the third quarter.

However, he said the carrier has seen "improvements" in U.S. property rates on both catastrophe and non-catastrophe accounts and the offshore energy sector. Internationally, he said, the company is seeing improvements in its Lloyd's portfolio, driven by U.S. property risk, but there is a mix of improvement and pressure on property rates in other countries.

"While there may be a reduction in catastrophe reinsurance capacity for the coming year, given our capital and financial resources, we do not foresee this presenting any significant issues for AIG," said Mr. Sullivan.

The main driver on increases will be the Jan. 1 reinsurance renewal season on the property catastrophe area, but he added he thought it would be a late renewal season as new capital enters the market and other capital leaves.

"The rate environment will continue to evolve as we get toward the end of the year," he said.

Mr. Sullivan noted that the company's life insurance segment showed strong results, with an operating income up 31 percent for the quarter and 18 percent for nine months.

On the regulatory front, Mr. Sullivan said the company continues to "cooperate fully and is in constructive discussions," in an effort to resolve outstanding issues. The company has been accused of accounting fraud by New York Attorney General Eliot Spitzer.

In its 10-Q filing, the company said a number of employees have received Wells notices from the Securities and Exchange Commission, indicating an enforcement action may be taken against them and they have the opportunity to respond before a final decision is made. In response to an analyst's question, Mr. Sullivan said the notices do not involve senior management. He said he would not comment further on the subject.

On the catastrophe front, AIG said fourth quarter losses from Hurricane Wilma are estimated to be $400 million, after-tax and net reinstatement premium costs.