(Bloomberg) -- American International Group Inc.’s assurances of underwriting progress are drawing increased skepticism from Wall Street analysts after another disappointing quarter.

Results from international commercial coverage and the American consumer business were short of estimates, “and this isn’t the first time those two areas have shown difficulty,” Michael Nannizzi of Goldman Sachs Group Inc. said Thursday on New York-based AIG’s conference call discussing third-quarter results. “What are you doing to get there, and how long is it going to take?”

6.9% drop this year

AIG dropped $2.83, or 4.7 percent, to $57.72 at 10:48 a.m. in New York, extending the drop this year to 6.9 percent. While Chief Executive Officer Peter Hancock has been selling units, buying reinsurance and reshaping the investment portfolio to limit volatility, the company remains prone to surprises. He reported losses in three straight quarters through March 31, and announced results late Wednesday that missed analysts’ estimates.

In recent years, the company has faced higher-than-expected claims costs on commercial policies tied to workers’ compensation and environmental risks and suffered declines on hedge fund holdings. Third-quarter operating profit was $1 a share, missing by 20 cents the average estimate of analysts surveyed by Bloomberg, as costs swelled on contracts in which the insurer guarantees payments to accident victims.