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. reports news about its financial guaranty, asset management and reinsurance activities as a Bermuda-based holding company traded on the NYSE under AGO. Through subsidiaries, the company provides credit enhancement products for U.S. and non-U.S. public finance, infrastructure and structured finance markets.
Recurring updates include quarterly and annual results, financial guaranty segment production, shareholders’ equity and adjusted book value metrics, common-share dividends, share repurchases, and guarantee transactions such as debt service reserve or financial guarantees in infrastructure markets. Company releases also cover its ownership interest in Sound Point Capital Management affiliates and its annuity reinsurance business through Assured Life Reinsurance Ltd.
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.
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.