Assured Guaranty Ltd (Bermuda)

AGO

Equity

ISIN BMG0585R1060 / Valor 1832273

New York Stock Exchange, Inc (2024-12-26)

USD 89.64+0.80%

Assured Guaranty Ltd (Bermuda)
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About company

Assured Guaranty Ltd (Bermuda) is a financial services holding company that specializes in financial guaranty reinsurance through its subsidiary, Assured Guaranty Re Ltd. It is the world's largest financial guaranty reinsurer, providing insurance to both affiliated and non-affiliated insurance companies. Additionally, the company owns Assured Guaranty Re Overseas Ltd. (AGRO), which focuses on the reinsurance of non-financial guaranty business lines. Assured Guaranty Ltd also participates in the asset management business through its ownership interest in Sound Point Capital Management, LP. The company guarantees timely payment of scheduled principal and interest on municipal, public infrastructure, and structured financings, making it a leading provider of financial guaranty insurance in the industry.

Summarized from source with an LLMView SourceSector: Finance

Record Shareholders' Equity

Assured Guaranty Ltd (Bermuda) reported record shareholders' equity per share of $111.09 as of September 30, 2024, up from $101.63 at the end of 2023. This increase was primarily driven by net income, unrealized gains in the investment portfolio, and share repurchases, partially offset by dividends.

Net Income Growth

For the third quarter of 2024, Assured Guaranty Ltd (Bermuda) achieved a net income of $171 million, translating to $3.17 per diluted share. This represents an increase from the $157 million, or $2.60 per diluted share, reported in the same period of 2023.

Insurance Segment Performance

The Insurance segment of Assured Guaranty Ltd (Bermuda) saw its adjusted operating income rise significantly to $162 million in the third quarter of 2024, compared to $59 million in the third quarter of 2023. This increase was largely due to a benefit in loss expense during the quarter.

New Business Production

Assured Guaranty Ltd (Bermuda) reported strong new business production in the third quarter of 2024, with Gross Written Premiums (GWP) and Present Value of New Business Production (PVP) reaching $61 million and $63 million, respectively. This was an increase from $40 million and $46 million in the same quarter of 2023.

Share Repurchase Program

As part of its capital management strategy, Assured Guaranty Ltd (Bermuda) repurchased 10% of its outstanding shares as of December 31, 2023, by November 8, 2024. Additionally, the board authorized an extra $250 million for share repurchases, indicating a strong commitment to returning value to shareholders.

Summarized from source with an LLMView Source

Key figures

20.6%1Y

83.4%3Y

82.2%5Y

Performance

25.2%1Y

29.6%3Y

43.1%5Y

Volatility