Assured Guaranty, LTD - AGO STOCK NEWS

Assured Guaranty Ltd. (NYSE: AGO) announced it will release its financial results for the full year and fourth quarter ending December 31, 2022, on February 28, 2023, after 4:00 p.m. Eastern Time. The results will be accessible on the company's website, AssuredGuaranty.com. An investor conference call is scheduled for March 1, 2023, at 8:00 a.m. Eastern Time, which will also be available via live webcast. A replay of the call will be accessible shortly after its conclusion for 90 days on the site. The company provides credit enhancement products and asset management services in public finance and infrastructure markets.

On December 6, 2022, the Modified Fifth Amended Title III Plan of Adjustment of the Puerto Rico Highways and Transportation Authority (HTA) took effect, marking its exit from bankruptcy. Assured Guaranty Ltd. (NYSE: AGO) resolved its exposure to HTA bonds, receiving approximately $104 million in cash and $807 million in par of new Toll Bonds. The company also paid off $711 million in insured HTA Bonds. This development reduces Assured Guaranty's Puerto Rico exposure by over $2 billion for 2022, enhancing its financial stability.

Assured Guaranty Ltd. reported a net income of $11 million for Q3 2022, equivalent to $0.18 per share, a decrease from Q3 2021. This decline resulted from $72 million in foreign exchange losses and $40 million in credit derivative adjustments. The company’s adjusted operating income was $133 million, up 369% year-over-year. Shareholders’ equity per share fell to $81.17, down from $93.19 in December 2021, mainly due to rising interest rates impacting the investment portfolio. Notably, $113 million was returned to shareholders through buybacks and dividends.

Assured Guaranty Ltd. (NYSE: AGO) has announced a quarterly dividend of $0.25 per common share, to be paid on November 30, 2022. Shareholders of record by the close of business on November 16, 2022, will be eligible for this dividend. The company provides credit enhancement products across public finance and structured finance markets, along with asset management services. This dividend declaration reflects the company's commitment to returning value to its shareholders.

Assured Guaranty Ltd. (NYSE:AGO) has received a reaffirmation of its AA+ insurance financial strength ratings from Kroll Bond Rating Agency LLC (KBRA), covering its subsidiaries in the U.S., U.K., and Europe. The ratings maintain a Stable Outlook. Key points include a substantial decline in Puerto Rico exposure and increased penetration in the municipal market, reaching the highest levels since 2009. The financial strength reflects strong capital resources and effective management, which positions the company favorably for future business opportunities.

Assured Guaranty Ltd. (NYSE: AGO) will release its financial results for Q3 2022 on November 7, 2022, after 4:00 p.m. Eastern Time. The accompanying Financial Supplement will be accessible on the company’s website. A conference call for investors is scheduled for November 8, 2022, at 8:00 a.m. Eastern Time, available via live webcast and phone. A replay will be offered post-call until February 7, 2023. Assured Guaranty provides credit enhancement products and asset management services in the U.S. and international markets.

Assured Guaranty Municipal Corp. and Assured Guaranty Corp. announced the appointment of Eric Friedland as a Director on their Infrastructure Finance team. Reporting to Lorne Potash, Friedland aims to enhance the company's financial guaranty business in the infrastructure sector. With over 30 years of municipal market experience, including prior roles at AGM and a strong background in bond insurance, his expertise is expected to leverage growing U.S. infrastructure market opportunities. The management expresses confidence in Friedland's ability to contribute significantly to the company’s goals.

Assured Guaranty Ltd. has partnered with UrbanFootprint to launch Municipal Bond Insights, a data-driven tool aimed at enhancing ESG analysis for the municipal bond market. This advanced platform evaluates climate and community vulnerability risks, vital for public finance investors as they face increasing scrutiny due to climate change impacts. In 2021, the U.S. incurred $145 billion in damages from natural disasters. By leveraging insights from UrbanFootprint, Assured Guaranty aims to improve risk assessment and management across its portfolio.

Assured Guaranty Ltd. reported a net loss of $47 million, or $0.74 per share, for Q2 2022, reflecting significant unrealized losses largely due to the rising interest rate environment. Despite this, the company achieved record levels in adjusted operating shareholders’ equity and adjusted book value per share, at $90.18 and $134.91 respectively. The insurance segment generated $65 million in gross written premiums, with strong new business production totaling $135 million for the first half of 2022. Shareholders received $167 million in capital returns, including share repurchases.