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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. (NYSE: AGO) reported strong financial results for Q2 2021, with record highs in key shareholder metrics. Shareholders' equity reached $6.5 billion, and adjusted operating income rose to $120 million, up from $119 million year-over-year. Insurance production surged, with gross premiums written totaling $171 million and present value of premiums (PVP) at $167 million. Asset Management saw AUM increase to $17.6 billion, reflecting strong growth in fee-earning assets. Despite a decline in net income to $98 million from $183 million in Q2 2020, the company maintains a stable outlook with an AA rating from S&P Global.
Assured Guaranty Ltd. (NYSE:AGO) has declared a quarterly dividend of $0.22 per common share. This dividend is payable on September 1, 2021, to shareholders of record as of the close of business on August 18, 2021. Assured Guaranty is a Bermuda-based holding company that provides credit enhancement products in public finance, infrastructure, and structured finance markets, along with asset management services.
Assured Guaranty Ltd. (NYSE: AGO) announced that it will release its second quarter financial results for the period ending June 30, 2021, on August 5, 2021, at 4:00 p.m. ET. The results and a Financial Supplement will be available on the Company's website. Subsequently, a conference call for investors is scheduled for August 6, 2021, at 8:00 a.m. ET, accessible via live webcast or phone. A replay of the call will be available until November 6, 2021. Assured Guaranty provides credit enhancement products and asset management services in public finance and other sectors.
Assured Guaranty Ltd. (NYSE: AGO) has received an affirmation of its AA financial strength ratings from S&P Global Ratings for its bond insurance subsidiaries, with stable outlooks. The ratings highlight Assured's excellent capital, liquidity, and a strong competitive position. S&P noted a well-diversified global underwriting strategy and a positive risk management culture. CEO Dominic Frederico emphasized the company's resilience and strong financial standing, particularly during the COVID-19 pandemic.
Assured Guaranty Ltd. (NYSE: AGO) announced a full redemption of its 6.875% Quarterly Interest Bond due December 15, 2101, and a partial redemption of its 6.25% Note due November 1, 2102, both effective July 9, 2021. The full redemption involves a principal amount of $100 million at 100% of the price, along with accrued interest. The partial redemption also consists of a $100 million principal amount at the same price. This move is part of Assured Guaranty's strategy to manage its debt and optimize its financial position.
Assured Guaranty (Europe) SA has guaranteed principal and interest payments on €125 million of bonds issued on May 21, 2021, by Anselma Issuer SA, enhancing its presence in Spain's renewable energy sector. The bonds, rated AA by S&P, leverage favorable long-term interest rates and are linked to 18 photovoltaic solar plants, benefiting from Spain's 2013 regulatory framework. This transaction marks AGE's fifth renewable deal in Spain within two years, showcasing growth despite challenging market conditions. AGE is rated AA by S&P and AA+ by Kroll Bond Rating Agency.
Assured Guaranty Ltd. (NYSE: AGO) announced the sale of $500 million in 3.15% senior notes, due in 2031, through its subsidiary, Assured Guaranty US Holdings Inc. The settlement is anticipated on May 26, 2021, pending customary closing conditions. Proceeds will support general corporate purposes, potentially including repurchase of subsidiary debt or investment in marketable securities. Goldman Sachs & Co. LLC and BofA Securities, Inc. are leading the offering, with Siebert Williams Shank & Co., LLC as co-manager.
Assured Guaranty Ltd. (NYSE: AGO) reported financial results for Q1 2021, highlighting key achievements. The company reached settlement agreements addressing over 93% of its Puerto Rico exposures. Shareholder equity measures hit new highs, with adjusted operating income at $43 million. The new business production generated $86 million of PVP, supported by strong U.S. public finance activity. The asset management segment benefited from a resurgence in the CLO market, doubling last year's management fees.
Assured Guaranty Ltd. (NYSE: AGO) has executed a plan support agreement (HTA/CCDA PSA) for settlement of insured exposure to Puerto Rico revenue bonds, agreed by multiple parties on April 12, 2021. This milestone aims to support Puerto Rico’s economic revitalization and concludes the Title III process. The agreement covers most of Assured Guaranty’s Puerto Rico exposures, ensuring investors are protected by unconditional guaranties on principal and interest payments. Forward-looking statements indicate risks related to the Title III plan confirmation and potential adverse developments in Puerto Rico.
Assured Guaranty Ltd. (NYSE:AGO) announced a quarterly dividend of $0.22 per common share, payable on June 2, 2021. Shareholders of record will be those noted at the close of business on May 19, 2021. Assured Guaranty operates as a Bermuda-based holding company, providing credit enhancement products and asset management services across public finance, infrastructure, and structured finance markets.
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