Assured Guaranty Ltd - AGO STOCK NEWS

Assured Guaranty (NYSE: AGO) reported its Q4 and full-year 2024 financial results. In Q4 2024, the company posted net income of $18 million ($0.35 per share), while adjusted operating income was $66 million ($1.27 per share). Gross written premiums reached $186 million with present value of new business production at $121 million.

For full-year 2024, AGO achieved net income of $376 million ($6.87 per share) and adjusted operating income of $389 million ($7.10 per share). The company returned $570 million to shareholders through share repurchases ($502 million) and dividends ($68 million). Shareholders' equity per share increased to $108.80, while adjusted book value reached $170.12.

The company maintained strong market position with 61% of U.S. primary municipal market insured par sold in Q4 2024. Share price appreciated 20% during the year, continuing the momentum from 2023.

Assured Guaranty (NYSE: AGO) has announced a 10% increase in its quarterly dividend to $0.34 per common share, up from the previous $0.31. The dividend will be payable on March 19, 2025, to shareholders of record as of March 5, 2025.

This increase continues the company's track record of raising dividends annually since 2012. Assured Guaranty operates as a Bermuda-based holding company providing credit enhancement products to U.S. and international public finance, infrastructure, and structured finance markets. The company also maintains a presence in asset management through its ownership stake in Sound Point Capital Management, LP.

Assured Guaranty (NYSE:AGO) has announced it will release its financial results for the full year and fourth quarter ended December 31, 2024, after 4:00 p.m. Eastern Time on February 27, 2025. The company will host an investor conference call on February 28, 2025, at 8:00 a.m. Eastern Time.

The financial results press release and Financial Supplement will be available on the company's website. Investors can access the conference call via webcast or by phone, with replay options available for 90 days via webcast and 30 days via telephone. Assured Guaranty provides credit enhancement products to U.S. and non-U.S. public finance, infrastructure and structured finance markets, and has an ownership interest in Sound Point Capital Management, LP.

Assured Guaranty UK (AGUK) has issued £140 million in five-year debt service reserve (DSR) guarantees to Associated British Ports (ABP) Group. These guarantees replace existing liquidity facilities from relationship banks. The transaction represents a strategic move for ABP to diversify its capital base and secure long-term commitment. AGUK, rated AA by S&P Global Ratings, A1 by Moody's, and AA+ by Kroll Bond Rating Agency, sees this as an opportunity to expand its debt service guarantee services to key infrastructure corporate clients.

Assured Guaranty reported net income of $171 million ($3.17 per share) for Q3 2024. Key financial highlights include gross written premiums of $61 million and adjusted operating income of $130 million ($2.42 per share). Shareholders' equity reached a record $111.09 per share, while adjusted book value hit $166.47 per share. The company returned $147 million to shareholders through $131 million in share repurchases and $16 million in dividends. The board authorized an additional $250 million for share repurchases. Year-to-date gross written premiums and present value of new business production increased by $33 million and $32 million respectively compared to the previous year.

Assured Guaranty (NYSE:AGO) has declared a quarterly dividend of $0.31 per common share, payable on December 6, 2024 to shareholders of record as of November 22, 2024. The Bermuda-based holding company provides credit enhancement products to U.S. and non-U.S. public finance, infrastructure and structured finance markets. The company also maintains a presence in asset management through its ownership stake in Sound Point Capital Management, LP and affiliated investment management entities.

Assured Guaranty has insured $920 million of senior Special Facilities Revenue Bonds for the JFK Airport Terminal 6 Redevelopment Project. The bonds, issued on November 5, are part of a $1.95 billion offering, including $820 million of Series 2024A Green Bonds and $100 million of Series 2024B fixed rate convertible bonds, both maturing in 2054. The funds will refinance JFK Millennium Partners' existing bonds and bank loans for constructing a new 1.2 million square foot Terminal 6. The project consortium includes Vantage Group, American Triple I, RXR Realty and JetBlue Airways.

Assured Guaranty (NYSE:AGO) has scheduled the release of its third quarter 2024 financial results for November 11, 2024, after 4:00 p.m. Eastern Time. The company will host an investor conference call on November 12, 2024, at 8:00 a.m. Eastern Time. The financial results and supplementary materials will be available on the company's website. A webcast replay will be accessible for 90 days, while a telephone replay will be available for 30 days following the call.

Kroll Bond Rating Agency (KBRA) has affirmed the AA+ insurance financial strength ratings with Stable Outlooks for Assured Guaranty Inc. (AG) and its U.K. and European subsidiaries, Assured Guaranty UK (AGUK) and Assured Guaranty (Europe) SA (AGE). KBRA highlighted AG's strong capital position, substantial claims-paying resources, and diversified underwriting platform focused on public finance, international infrastructure, and structured finance.

The agency noted that AG's expertise in surveillance and work-outs helps mitigate credit risk and limit losses while growing its insured portfolio. KBRA views new business opportunities for AG as strong, citing increased awareness of financial guaranty products due to high-profile municipal defaults and events like the COVID-19 pandemic. The recent merger of Assured Guaranty Municipal Corp. into Assured Guaranty Inc. was seen as streamlining the organizational structure and improving efficiencies.