Welcome to our dedicated page for Assured Guaranty news (Ticker: AGO), a resource for investors and traders seeking the latest updates and insights on Assured Guaranty stock.
Assured Guaranty Ltd. (NYSE: AGO) is a Bermuda-based holding company whose subsidiaries provide credit enhancement and credit protection products to public finance, infrastructure and structured finance markets in the U.S. and internationally. The AGO news feed highlights how the company’s insurance and asset management activities translate into transactions, ratings actions, earnings announcements and capital management decisions.
News about Assured Guaranty often covers financial results for its Insurance and Asset Management segments, including net income, adjusted operating income, gross written premiums, present value of new business production and changes in shareholders’ equity and adjusted book value per share. Earnings releases and related conference call announcements give context on production in U.S. public finance, non-U.S. public finance and global structured finance, as well as developments in loss experience and investment income.
Investors can also follow transaction-focused updates, such as Assured Guaranty Inc. insuring special facilities revenue bonds for major infrastructure projects or Assured Guaranty (Europe) SA issuing financial guarantees and debt service reserve guarantees for European infrastructure and telecom-related financings. These items illustrate how the group’s credit enhancement products are used in specific markets and sectors.
Additional AGO news includes dividend declarations, share repurchase authorizations and stock redemptions by subsidiaries, reflecting the company’s capital management approach, as well as rating agency actions such as Kroll Bond Rating Agency’s affirmations of AA+ insurance financial strength ratings for key insurance subsidiaries. Together, these updates provide a view of Assured Guaranty’s operating performance, risk profile and role in public finance and structured finance markets. For ongoing coverage, readers can return to this page to review the latest press releases and regulatory news related to AGO.
Assured Guaranty (NYSE: AGO) announced a strategic agreement with Sound Point Capital Management, allowing Assured Guaranty to exchange its equity in AssuredIM for a 30% stake in the combined entity. This transaction positions the new company as the world's fifth-largest CLO asset manager, anticipating immediate accretion to earnings per share (EPS), return on equity (ROE), and book value per share (BVPS). Assured Guaranty will also invest $1 billion in alternative credit strategies, enhancing the diversification of its earnings. Completion is expected in Q3 2023, subject to regulatory approvals.
Assured Guaranty Ltd. (NYSE: AGO) reported its financial results for Q4 and FY 2022, showcasing a net income of $94 million, or $1.52 per share, in Q4, down from $263 million in Q4 2021. For FY 2022, net income was $124 million, or $1.92 per share. Despite total gross written premiums reaching $360 million, the insurance segment's adjusted operating income fell to $66 million, a significant decrease from $277 million in Q4 2021. The company returned $567 million to shareholders, consisting of share repurchases and dividends. Meanwhile, the asset management segment faced a $3 million adjusted operating loss with total AUM at $17.464 billion.
Assured Guaranty Ltd. (NYSE:AGO) has launched a new indirect subsidiary, AG Analytics, aimed at enhancing access to municipal credit analytics. This fintech platform targets asset management firms, banks, insurance companies, and municipal advisors, aiming to provide superior data solutions compared to existing fragmented resources. Justin Land will serve as CEO of AG Analytics. The platform will feature tools analyzing obligor level risk, helping the industry streamline data-intensive analysis. Assured Guaranty emphasizes its extensive experience and market relationships to position AG Analytics as an industry leader in municipal finance technology.
Assured Guaranty Ltd. (NYSE:AGO) has announced a quarterly dividend of $0.28 per common share, marking a 12% increase from the $0.25 dividend declared on November 2, 2022. This increase marks the twelfth consecutive year of dividend growth for the company.
The dividend is scheduled to be paid on March 22, 2023 to shareholders recorded by March 8, 2023. Assured Guaranty Ltd. provides credit enhancement products across U.S. and international markets, alongside asset management services.
Assured Guaranty UK Limited (AGUK) announced its guarantee of principal and interest payments on a £210 million bond issued by City Property Glasgow (Operations SL3) Ltd. This marks the second collaboration with Glasgow City Council following a £195 million issuance in 2019. The 29-year fixed-rate bond, rated AA by S&P, was issued on February 20, 2023, to finance a long-term sale and leaseback transaction. AGUK’s guarantee provides a tailored financing solution benefiting both the council and investors. This transaction demonstrates AGUK’s commitment to cost-effective financing options for UK councils.
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.