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Assured Guaranty ltd   (NYSE: AGO)
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Price: $85.5000 $0.53 0.624%
Day's High: $86.19 Week Perf: -2.34 %
Day's Low: $ 85.45 30 Day Perf: 0.83 %
Volume (M): 278 52 Wk High: $ 96.50
Volume (M$): $ 23,735 52 Wk Avg: $85.41
Open: $85.52 52 Wk Low: $72.57



 Market Capitalization (Millions $) 4,374
 Shares Outstanding (Millions) 51
 Employees 350
 Revenues (TTM) (Millions $) 972
 Net Income (TTM) (Millions $) 464
 Cash Flow (TTM) (Millions $) 45
 Capital Exp. (TTM) (Millions $) 0

Assured Guaranty Ltd

Assured Guaranty Ltd. is a Bermuda-based holding company incorporated in 2003 that provides, through its operating subsidiaries, credit protection products to the United States (“U.S.”) and international public finance (including infrastructure) and structured finance markets. The Company applies its credit underwriting judgment, risk management skills and capital markets experience to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments. If an obligor defaults on a scheduled payment due on an obligation, including a scheduled principal or interest payment (“Debt Service”), the Company is required under its unconditional and irrevocable financial guaranty to pay the amount of the shortfall to the holder of the obligation. The Company markets its financial guaranty insurance directly to issuers and underwriters of public finance and structured finance securities as well as to investors in such obligations. The Company guarantees obligations issued principally in the U.S. and the United Kingdom ("U.K"), and also guarantees obligations issued in other countries and regions, including Australia and Western Europe.

Assured Guaranty Municipal Corp. AGM is located and domiciled in New York, was organized in 1984 and commenced operations in 1985. Since mid-2008, AGM has provided financial guaranty insurance on debt obligations issued in the U.S. public finance and global infrastructure markets, including bonds issued by U.S. state or governmental authorities or notes issued to finance infrastructure projects. Previously, AGM also offered insurance and reinsurance in the global structured finance market, including asset-backed securities issued by special purpose entities. AGM formerly was named Financial Security Assurance Inc. Assured Guaranty acquired AGM, together with its holding company Financial Security Assurance Holdings Ltd. (renamed Assured Guaranty Municipal Holdings Inc., "AGMH") and the subsidiaries owned by that holding company, on July 1, 2009.

Municipal Assurance Corp. MAC is located and domiciled in New York and was organized in 2008. Assured Guaranty acquired MAC on May 31, 2012. On July 16, 2013, Assured Guaranty completed a series of transactions that increased the capitalization of MAC and resulted in MAC assuming a portfolio of geographically diversified U.S. public finance exposure from AGM and AGC. MAC offers insurance and reinsurance on bonds issued by U.S. state or municipal governmental authorities, focusing on investment grade obligations in select sectors of the municipal market.

Assured Guaranty Corp. AGC is located in New York and domiciled in Maryland, was organized in 1985 and commenced operations in 1988. It provides insurance and reinsurance on debt obligations in the global structured finance market and also offers guarantees on obligations in the U.S. public finance and international infrastructure markets.

On April 1, 2015 (“Acquisition Date”), AGC completed the acquisition (“Radian Asset Acquisition”) of all of the issued and outstanding capital stock of financial guaranty insurer Radian Asset Assurance Inc. (“Radian Asset”) for $804.5 million; the cash consideration was paid from AGCs available funds and from the proceeds of a $200 million loan from AGC’s direct parent, Assured Guaranty US Holdings Inc. ("AGUS"). AGC repaid the loan in full to AGUS on April 14, 2015. Radian Asset was merged with and into AGC, with AGC as the surviving company of the merger. The Radian Asset Acquisition added $13.6 billion to the Companys net par outstanding on April 1, 2015, and is consistent with one of the Companys key business strategies of supplementing its book of business through acquisitions.

Assured Guaranty (Europe) Ltd. AGE is a U.K. incorporated company licensed as a U.K. insurance company and authorized to operate in various countries throughout the European Economic Area ("EEA"). It was organized in 1990 and issued its first financial guarantee in 1994. AGE offers financial guarantees in both the international public finance and structured finance markets and is the primary entity from which the Company writes business in the EEA. As discussed further under "Business" below, AGE has agreed with its regulator that new business it writes would be guaranteed using a co-insurance structure pursuant to which AGE would co-insure municipal and infrastructure transactions with AGM, and structured finance transactions with AGC. AGE must obtain the approval of the Prudential Regulation Authority ("PRA") before it can guarantee any new structured finance transaction.


Assured Guaranty Re Ltd. AG Re is incorporated under the laws of Bermuda and is licensed as a Class 3B insurer under the Insurance Act 1978 and related regulations of Bermuda. AG Re owns, indirectly, Assured Guaranty Re Overseas Ltd. ("AGRO"), which is a Bermuda Class 3A and Class C insurer. AG Re and AGRO underwrite financial guaranty reinsurance. They write business as reinsurers of third-party primary insurers and of certain affiliated companies.

Assured Guaranty is the market leader in the financial guaranty industry. The Companys position in the market has benefited from its acquisition of AGMH in 2009, its ability to maintain strong financial strength ratings, its strong claims-paying resources, its proven willingness to make claim payments to policyholders after obligors have defaulted, and its ability to achieve recoveries in respect of the claims that it has paid on insured residential mortgage-backed securities and to resolve troubled municipal credits to which it had exposure.


The Company primarily conducts its business through subsidiaries located in the U.S., Europe and Bermuda. The Company generally insures obligations issued in the U.S., although it has also guaranteed securities issued in Europe, Australia and other international markets.

Financial guaranty insurance generally provides an unconditional and irrevocable guaranty that protects the holder of a debt instrument or other monetary obligation against non-payment of scheduled principal and interest payments when due. Upon an obligors default on scheduled principal or interest payments due on the debt obligation, whether due to its insolvency or otherwise, the Company is generally required under the financial guaranty contract to pay the investor the principal or interest shortfall then due.

Financial guaranty insurance may be issued to all of the investors of the guaranteed series or tranche of a municipal bond or structured finance security at the time of issuance of those obligations or it may be issued in the secondary market to only specific individual holders of such obligations who purchase the Companys credit protection.

Both issuers of and investors in financial instruments may benefit from financial guaranty insurance. Issuers benefit when they purchase financial guaranty insurance for their new issue debt transaction because the insurance may have the effect of lowering an issuers interest cost over the life of the debt transaction to the extent that the insurance premium charged by the Company is less than the net present value of the difference between the yield on the obligation insured by Assured Guaranty (which carries the credit rating of the specific subsidiary that guarantees the debt obligation) and the yield on the debt obligation if sold on the basis of its uninsured credit rating. The principal benefit to investors is that the Companys guaranty provides certainty that scheduled payments will be received when due. The guaranty may also improve the marketability of obligations issued by infrequent or unknown issuers, as well as obligations with complex structures or backed by asset classes new to the market. This benefit to market liquidity, which we call a "liquidity benefit," results from the increase in secondary market trading values for Assured Guaranty-insured obligations as compared with uninsured obligations by the same issuer. In general, the liquidity benefit of financial guaranties is that investors are able to sell insured bonds more quickly and, depending on the financial strength rating of the insurer, at a higher secondary market price than for uninsured debt obligations.

As an alternative to traditional financial guaranty insurance, in the past the Company also provided credit protection relating to a particular security or obligor through a credit derivative contract, such as a credit default swap ("CDS"). Under the terms of a CDS, the seller of credit protection agreed to make a specified payment to the buyer of credit protection if one or more specified credit events occurs with respect to a reference obligation or entity. In general, the credit events specified in the Companys CDS are for interest and principal defaults on the reference obligation. One difference between CDS and traditional primary financial guaranty insurance is that credit default protection was typically provided to a particular buyer of credit protection, who is not always required to own the reference obligation, rather than to all investors in the reference obligation. As a result, the Companys rights and remedies under a CDS may be different and more limited than on a financial guaranty of an entire issuance. Credit derivatives were preferred by some investors, however, because they generally offered the investor ease of execution and standardized terms as well as more favorable accounting or capital treatment. Due to changes in the regulatory environment, the Company has not provided credit protection through a CDS since March 2009, other than in connection with loss mitigation and other remediation efforts relating to its existing book of business. See the Risk Factor captioned "Changes in or inability to comply with applicable law could adversely affect the Companys ability to do business" under Risks Related to GAAP and Applicable Law in "Item 1A. Risk Factors" for additional detail about the regulatory environment.

The Company also offers credit protection through reinsurance, and in the past has provided reinsurance to other financial guaranty insurers with respect to their guaranty of public finance, infrastructure and structured finance obligations. The Company believes that the opportunities currently available to it in the reinsurance market consist primarily of potentially assuming portfolios of transactions from inactive primary insurers and recapturing portfolios that it has previously ceded to third party reinsurers.

U.S. Public Finance Obligations The Company insures and reinsures a number of different types of U.S. public finance obligations, including the following:

General Obligation Bonds are full faith and credit bonds that are issued by states, their political subdivisions and other municipal issuers, and are supported by the general obligation of the issuer to pay from available funds and by a pledge of the issuer to levy ad valorem taxes in an amount sufficient to provide for the full payment of the bonds.

Tax-Backed Bonds are obligations that are supported by the issuer from specific and discrete sources of taxation. They include tax-backed revenue bonds, general fund obligations and lease revenue bonds. Tax-backed obligations may be secured by a lien on specific pledged tax revenues, such as a gasoline or excise tax, or incrementally from growth in property tax revenue associated with growth in property values. These obligations also include obligations secured by special assessments levied against property owners and often benefit from issuer covenants to enforce collections of such assessments and to foreclose on delinquent properties. Lease revenue bonds typically are general fund obligations of a municipality or other governmental authority that are subject to annual appropriation or abatement; projects financed and subject to such lease payments ordinarily include real estate or equipment serving an essential public purpose. Bonds in this category also include moral obligations of municipalities or governmental authorities.


Municipal Utility Bonds are obligations of all forms of municipal utilities, including electric, water and sewer utilities and resource recovery revenue bonds. These utilities may be organized in various forms, including municipal enterprise systems, authorities or joint action agencies.

Transportation Bonds include a wide variety of revenue-supported bonds, such as bonds for airports, ports, tunnels, municipal parking facilities, toll roads and toll bridges.

Healthcare Bonds are obligations of healthcare facilities, including community based hospitals and systems, as well as of health maintenance organizations and long-term care facilities.

Higher Education Bonds are obligations secured by revenue collected by either public or private secondary schools, colleges and universities. Such revenue can encompass all of an institutions revenue, including tuition and fees, or in other cases, can be specifically restricted to certain auxiliary sources of revenue.

Housing Revenue Bonds are obligations relating to both single and multi-family housing, issued by states and localities, supported by cash flow and, in some cases, insurance from entities such as the Federal Housing Administration.

Infrastructure Bonds include obligations issued by a variety of entities engaged in the financing of infrastructure projects, such as roads, airports, ports, social infrastructure and other physical assets delivering essential services supported by long-term concession arrangements with a public sector entity.

Investor-Owned Utility Bonds are obligations primarily backed by investor-owned utilities, first mortgage bond obligations of for-profit electric or water utilities providing retail, industrial and commercial service, and also include sale-leaseback obligation bonds supported by such entities.

Other Public Finance Bonds include other debt issued, guaranteed or otherwise supported by U.S. national or local governmental authorities, as well as student loans, revenue bonds, and obligations of some not-for-profit organizations.




   Company Address: 30 Woodbourne Avenue Hamilton 0
   Company Phone Number: 279-5700   Stock Exchange / Ticker: NYSE AGO


Customers Net Income grew by AGO's Customers Net Profit Margin grew to

16.16 %

23.16 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AIG   -1.67%    
TRV        0.31% 
AJG        0.12% 
AON        0.58% 
BRO   -0.8%    
MCO        3.49% 
• View Complete Report
   



Dividend

Assured Guaranty Ltd. Declares Quarterly Dividend Amidst Slight Market Decline

Published Thu, Aug 8 2024 12:06 AM UTC



Assured Guaranty Ltd., a publicly traded Bermuda-based holding company, has recently announced its quarterly dividend of $0.31 per common share. This news comes at a time when the company s stock has experienced a slight decline in the past five trading days, bringing the year-to-date performance to 3.16%. However, despite this downturn, Assured Guaranty Ltd. conti...

Dividend

Assured Guaranty Ltd. Declares $0.31 Quarterly Dividend; Stock Reflects Mixed Performance with 21% Annual Growth, refusal: null

Published Wed, Aug 7 2024 2:57 PM UTC

Assured Guaranty Ltd. Declares Quarterly Dividend Amid Mixed Stock Performance in 2024
HAMILTON, Bermuda Assured Guaranty Ltd. (NYSE: AGO) has announced a quarterly dividend of $0.31 per common share, reinforcing its commitment to returning value to shareholders as it navigates a complex market landscape. This dividend is set to be payable on September 4, 2024, to shar...

Business Update

Assured Guarantys Strategic Merger A Move Towards Enhanced Financial Stability and Streamlined Operations

Published Mon, Aug 5 2024 3:47 PM UTC

In a significant development for the municipal bond market, Assured Guaranty Ltd. (NYSE: AGO) has announced the upcoming merger of its two principal subsidiaries Assured Guaranty Municipal Corp. (AGM) into Assured Guaranty Inc. (AG). This strategic consolidation, effective August 1, 2024, has prompted reassuring assessments from leading credit rating agencies, indicating tha...

Business Update

Assured Guarantys Financial Strength Remains Unaffected by Merger, Ratings Agencies Confirm

Published Fri, Jul 12 2024 4:32 AM UTC

Assured Guaranty s Financial Strength Unchanged Following Merger, S&P, KBRA and Moody s ConfirmBermuda-based Assured Guaranty Ltd. (AGL) and its subsidiaries announced today that major rating agencies S&P Global Ratings (S&P), Kroll Bond Rating Agency (KBRA), and Moody s Ratings (Moody s) have expressed that there will be no impact on Assured Guaranty s financial strength as...

Business Update

Assured Guaranty Secures Unchanged Financial Strength and Positive Sales Growth Amid Subsidiary Merger

Published Thu, Jul 11 2024 9:47 PM UTC

Assured Guaranty s Financial Strength Unchanged Following Merger of Principal Subsidiaries, According to S&P, KBRA, and Moody sAssured Guaranty Ltd. (NYSE: AGO) and its subsidiaries, collectively known as Assured Guaranty, recently announced the upcoming merger of Assured Guaranty Municipal Corp. (AGM) into Assured Guaranty Inc. (AG). In response, S&P Global Ratings (S&P), K...







Assured Guaranty Ltd's Segments
InterEliminations    4.64 % of total Revenue
Insurance Excluding InterElimination    68.7 % of total Revenue
Insurance InterEliminations    0.58 % of total Revenue
Insurance    69.28 % of total Revenue
Asset Management Excluding InterElimination    1.45 % of total Revenue
Asset Management InterEliminations    0.29 % of total Revenue
Asset Management    1.74 % of total Revenue
Realized gains losses on investments    -4.64 % of total Revenue
Non-credit impairment-related unrealized fair value gains losses on credit derivatives    17.68 % of total Revenue
Fair value gains losses on CCS    0.58 % of total Revenue
Foreign exchange gains losses on remeasurement of premiums receivable and loss and LAE reserves    9.57 % of total Revenue
Subtotal    76.81 % of total Revenue
Corporate division    1.16 % of total Revenue
InterEliminations Insurance    0.58 % of total Revenue
InterEliminations Asset Management    0.29 % of total Revenue





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