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Assured Guaranty Ltd. (NYSE: AGO) is a leading provider of financial guaranty insurance. The company guarantees the timely payment of scheduled principal and interest on municipal, public infrastructure, and structured finance obligations. Operating primarily through its subsidiaries, Assured Guaranty serves both the U.S. and international markets, offering credit enhancement products that improve the creditworthiness of bonds and other financial instruments.
Assured Guaranty operates in two main segments: Insurance and Asset Management. The Insurance segment predominantly drives the company's revenue by insuring municipal bonds and infrastructure projects, while the Asset Management segment focuses on managing assets across collateralized loan obligations and other investment funds.
The company's recent activities highlight its robust market presence and strategic initiatives. For instance, Assured Guaranty Municipal Corp. (AGM) insured $800 million in bonds for the New York Transportation Development Corporation to support the JFK Airport's New Terminal One Project. Additionally, Assured Guaranty (Europe) SA secured a €93.7 million loan for Metro de Madrid, demonstrating its significant role in facilitating major infrastructure projects.
Financially, Assured Guaranty remains strong, with a solid track record of profitability and shareholder value enhancement. The company declared a quarterly dividend increase to $0.31 per common share, reflecting its commitment to returning value to shareholders. Furthermore, Assured Guaranty's financial performance in the fourth quarter of 2023 was impressive, with GAAP net income of $376 million and adjusted operating income of $338 million.
Assured Guaranty's strategic transactions, such as its collaboration with Sound Point Capital Management, indicate its proactive approach to expanding its asset management capabilities. These efforts position the company well for future growth and underscore its adaptability in a dynamic financial landscape.
For more information, visit AssuredGuaranty.com.
Assured Guaranty Ltd. announced a framework agreement with the Financial Oversight and Management Board for Puerto Rico to settle its insured exposure related to the Puerto Rico Highway and Transportation Authority. This agreement is subject to definitive documentation, supporting the revised Puerto Rico General Obligation and Public Buildings Authority Plan Support Agreement. Assured Guaranty emphasizes its commitment to a consensual resolution of Puerto Rico's financial issues, aiming for a fair conclusion of the Title III process while protecting its legal rights.
Assured Guaranty Ltd. (AGO) reported its financial results for Q4 and FY 2020, achieving significant milestones despite market challenges. The company secured a 58% share in the bond insurance market and raised municipal PVP by 45% year-over-year. The repurchase of shares increased adjusted book value per share by $17.88, the highest since its IPO. However, adjusted operating income fell to $429 million in FY 2020 from $512 million in FY 2019, driven by increased loss expenses mainly linked to Puerto Rico. Investors should weigh these factors when considering AGO's stock.
Assured Guaranty Ltd. (NYSE:AGO) has declared a quarterly dividend of $0.22 per common share, marking a 10% increase from the previous $0.20 dividend declared on November 2, 2020. The new dividend will be payable on March 24, 2021, to shareholders recorded by the close of business on March 10, 2021. This reflects the company's commitment to returning value to shareholders while continuing to provide credit enhancement products across various financial markets.
Assured Guaranty Municipal Corp. and Assured Guaranty Corp. (subsidiaries of Assured Guaranty Ltd.) have conditionally supported a revised Plan Support Agreement (PSA) regarding Puerto Rico's financial challenges. This agreement is with the Financial Oversight and Management Board and other creditors, with tacit support from the Commonwealth of Puerto Rico. Assured Guaranty aims for a comprehensive resolution involving various Puerto Rican credits, including Highway and Transportation Authority bonds, ensuring legal rights are respected and expediting the Title III process.
Assured Guaranty Ltd. (NYSE:AGO) announced it will release its financial results for the full year and fourth quarter ended December 31, 2020, after 4:00 p.m. ET on February 25, 2021. Concurrently, a financial supplement will be accessible on the company's website. A conference call for investors is scheduled for 8:00 a.m. ET on February 26, 2021, with options for live and archived webcasts. The replay will be available until May 26, 2021. Assured Guaranty specializes in credit enhancement products and asset management services.
Kroll Bond Rating Agency (KBRA) has affirmed the AA+ ratings for Assured Guaranty Municipal Corp. (AGM) and its subsidiaries, alongside a AA rating for Assured Guaranty Corp. (AGC) and Municipal Assurance Corp. (MAC), all with Stable Outlooks. Key strengths include experienced management and a robust risk management framework. KBRA considers COVID-19 primarily a liquidity event for Assured Guaranty, with no first-time claims linked to credit stress as of November 6. The group boasts approximately $11 billion in claims-paying resources as of September 30, 2020.
Assured Guaranty Ltd. (NYSE: AGO) reported strong financial results for Q3 2020, achieving the best new business production in over a decade with a Present Value of Production (PVP) of $117 million. The company's net income increased to $86 million, compared to $69 million in Q3 2019. Significant growth was observed in the U.S. public finance market, where insured par volume doubled year-over-year to $7.5 billion, capturing 64% market share. However, adjusted operating income fell to $81 million, down from $107 million, mainly due to increased loss expenses attributed to Puerto Rico exposures.
Assured Guaranty has appointed Randall Gerardes as the new Managing Director for Public Finance Marketing, effective November 2, 2020. Reporting to Chris Chafizadeh, he aims to strengthen relationships in the municipal market. Gerardes, with over 20 years of experience, has returned after previously serving as an underwriter for six years. His extensive background includes roles at MBIA and AIG, as well as leading municipal strategy at Wells Fargo Securities. This strategic hire underscores Assured Guaranty's commitment to enhanced client service and market leadership.
Assured Guaranty Ltd. (NYSE:AGO) announced a quarterly dividend of $0.20 per common share, scheduled for payment on December 2, 2020. Shareholders of record as of the close of business on November 18, 2020 will be eligible for this dividend. The company operates as a holding firm based in Bermuda, providing credit enhancement products and asset management services to both domestic and international markets.
Assured Guaranty Ltd. (NYSE: AGO) will release its financial results for the third quarter ended September 30, 2020, on November 5, 2020, at 4:00 p.m. ET. The financial reports will be accessible on the Company’s Investor Information page. Additionally, a conference call for investors is scheduled for November 6, 2020, at 8:00 a.m. ET, with options for live and archived listening available. The replay of the call will be accessible through February 6, 2021. Assured Guaranty provides credit enhancement and asset management services in public finance and structured finance markets.
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