Overview
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- TickerAGO on NYSE2
- IndustrySurety Insurance2
- HeadquartersHamilton, Bermuda2
- Incorporated inBermuda3
- Business address30 Woodbourne Ave, 5Th Floor, Hamilton Bermuda, D0 Hm083
- Filer categoryLarge accelerated filer3
- Legal formExempted Companies Limited by Shares2
- LEI549300BBOQUJEPH87M142
- StatusActive2
- LEI statusIssued and current2
- Registered address30 Woodbourne Avenue, HM 08 Hamilton, Bermuda2
- Registered withRegistrar of Companies (Ministry of Economic Development), 340772
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Assured Guaranty Ltd. (AGL and, together with its subsidiaries, Assured Guaranty or the Company) is a Bermuda-based holding company that provides, through its wholly-owned operating subsidiaries, credit protection products to the U.S. and non-U.S. public finance (including infrastructure) and structured finance markets. Assured Guaranty also participates in the asset management business.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Insurance brought in 97% of the revenue ASSURED GUARANTY LTD broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Insurance | $855.0M | $821.0M | $870.0M |
| Asset Management | $76.0M | $10.0M | $29.0M |
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net earned premiums | $380.0M | $403.0M | $344.0M |
| Net investment income | $359.0M | $340.0M | $365.0M |
| Asset management fees | $0 | $0 | $53.0M |
| Net realized investment gains (losses) | -$40.0M | $9.0M | -$14.0M |
| Fair value gains (losses) on credit derivatives | $121.0M | $24.0M | $114.0M |
| Fair value gains (losses) on committed capital securities | $20.0M | -$10.0M | -$35.0M |
| Fair value gains (losses) on financial guaranty variable interest entities | $6.0M | -$11.0M | $8.0M |
| Fair value gains (losses) on consolidated investment vehicles | $79.0M | $69.0M | $88.0M |
| Foreign exchange gains (losses) on remeasurement | $96.0M | -$27.0M | $53.0M |
| Fair value gains (losses) on trading securities | $13.0M | $52.0M | $74.0M |
| Gain on sale of asset management subsidiaries | $0 | $0 | $262.0M |
| Other income (loss) | $76.0M | $23.0M | $61.0M |
| Total revenues | $1.1B | $872.0M | $1.4B |
| Loss and loss adjustment expenses (benefit) | $56.0M | -$26.0M | $162.0M |
| Interest expense | $89.0M | $91.0M | $90.0M |
| Amortization of deferred acquisition costs | $22.0M | $20.0M | $13.0M |
| Employee compensation and benefit expenses | $209.0M | $202.0M | $251.0M |
| Other operating expenses | $174.0M | $159.0M | $217.0M |
| Total expenses | $550.0M | $446.0M | $733.0M |
| Income (loss) before income taxes and equity in earnings (losses) of investees | $560.0M | $426.0M | $640.0M |
| Equity in earnings (losses) of investees | $102.0M | $62.0M | $28.0M |
| Income (loss) before income taxes | $662.0M | $488.0M | $668.0M |
| Current | $124.0M | $100.0M | $63.0M |
| Deferred | -$5.0M | -$4.0M | -$156.0M |
| Total provision (benefit) for income taxes | $119.0M | $96.0M | -$93.0M |
| Net income (loss) | $543.0M | $392.0M | $761.0M |
| Less: Noncontrolling interest | $40.0M | $16.0M | $22.0M |
| Net income (loss) attributable to Assured Guaranty Ltd. | $503.0M | $376.0M | $739.0M |
| Basic (in dollars per share) | $10.39 | $7.01 | $12.54 |
| Diluted (in dollars per share) | $10.26 | $6.87 | $12.30 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Fixed-maturity securities, available-for-sale | $6.4B | $6.4B | ||
| Fixed-maturity securities, trading, at fair value | $124.0M | $147.0M | ||
| Short-term investments, at fair value | $903.0M | $1.2B | ||
| Other invested assets (includes $3 and $4, at fair value) | $1.1B | $926.0M | ||
| Total investments | $8.5B | $8.7B | ||
| Cash | $388.0M | $121.0M | $97.0M | |
| Premiums receivable, net of commissions payable, net of allowance for credit losses of $3 and $ | $1.6B | $1.6B | ||
| Deferred acquisition costs | $192.0M | $176.0M | $161.0M | $147.0M |
| Salvage and subrogation recoverable | $449.0M | $396.0M | ||
| Financial guaranty variable interest entities assets (includes $172 and $147, at fair value) | $212.0M | $147.0M | ||
| Assets of consolidated investment vehicles (includes $167 and $99, at fair value) | $175.0M | $101.0M | ||
| Other assets (includes $174 and $131, at fair value) | $701.0M | $746.0M | ||
| Total assets | $12.2B | $11.9B | ||
| Unearned premium reserve | $3.6B | $3.7B | ||
| Loss and loss adjustment expense reserve | $309.0M | $268.0M | ||
| Long-term debt | $1.7B | $1.7B | ||
| Financial guaranty variable interest entities liabilities (includes $197 and $164, at fair value, $182 and $155 with recourse, $16 and $9 without recourse) | $198.0M | $164.0M | ||
| Other liabilities (includes $21000000 and $34000000 at fair value) | $551.0M | $498.0M | ||
| Total liabilities | $6.4B | $6.3B | ||
| Common shares ($0.01 par value, 500,000,000 shares authorized; 45,184,791 and 50,505,320 shares issued and outstanding) | $0 | $1.0M | ||
| Retained earnings | $5.8B | $5.9B | ||
| Accumulated other comprehensive income (loss), net of tax of $(39) and $(75) | -$168.0M | -$385.0M | ||
| Deferred equity compensation | $1.0M | $1.0M | ||
| Total shareholders equity attributable to Assured Guaranty Ltd. | $5.7B | $5.5B | ||
| Non-redeemable noncontrolling interest (Note 8) | $126.0M | $58.0M | ||
| Total shareholders equity | $5.8B | $5.6B | $5.8B | $5.3B |
| Total liabilities and shareholders equity | $12.2B | $11.9B | ||
| Allowance for credit loss | $54.0M | $60.0M | $77.0M | $65.0M |
| Amortized Cost | $6.6B | $6.8B | ||
| Other invested assets, fair value disclosure | $3.0M | $4.0M | ||
| Premiums receivable, allowance for credit loss | $3.0M | $0 | ||
| Financial guaranty variable interest entities' assets, fair value | $172.0M | $147.0M | ||
| Assets of consolidated investment vehicles, fair value disclosure | $167.0M | $99.0M | ||
| Other assets, fair value disclosure | $174.0M | $131.0M | ||
| Financial guaranty variable interest entities' liabilities | $197.0M | $164.0M | ||
| Financial guaranty variable interest entities' liabilities, with recourse | $182.0M | $155.0M | ||
| Financial guaranty variable interest entities' liabilities, without recourse | $16.0M | $9.0M | ||
| Other liabilities | $21.0M | $34.0M | ||
| Common stock par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 45.2M shares | 50.5M shares | ||
| Common stock, shares outstanding (in shares) | 45.2M shares | 50.5M shares | ||
| Accumulated other comprehensive income, tax provision | -$39.0M | -$75.0M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Fixed-maturity securities, available-for-sale | $6.4B | $6.4B | ||
| Fixed-maturity securities, trading, at fair value | $124.0M | $147.0M | ||
| Short-term investments, at fair value | $903.0M | $1.2B | ||
| Other invested assets (includes $3 and $4, at fair value) | $1.1B | $926.0M | ||
| Total investments | $8.5B | $8.7B | ||
| Cash | $388.0M | $121.0M | $97.0M | |
| Premiums receivable, net of commissions payable, net of allowance for credit losses of $3 and $ | $1.6B | $1.6B | ||
| Deferred acquisition costs | $192.0M | $176.0M | $161.0M | $147.0M |
| Salvage and subrogation recoverable | $449.0M | $396.0M | ||
| Financial guaranty variable interest entities assets (includes $172 and $147, at fair value) | $212.0M | $147.0M | ||
| Assets of consolidated investment vehicles (includes $167 and $99, at fair value) | $175.0M | $101.0M | ||
| Other assets (includes $174 and $131, at fair value) | $701.0M | $746.0M | ||
| Total assets | $12.2B | $11.9B | ||
| Unearned premium reserve | $3.6B | $3.7B | ||
| Loss and loss adjustment expense reserve | $309.0M | $268.0M | ||
| Long-term debt | $1.7B | $1.7B | ||
| Financial guaranty variable interest entities liabilities (includes $197 and $164, at fair value, $182 and $155 with recourse, $16 and $9 without recourse) | $198.0M | $164.0M | ||
| Other liabilities (includes $21000000 and $34000000 at fair value) | $551.0M | $498.0M | ||
| Total liabilities | $6.4B | $6.3B | ||
| Common shares ($0.01 par value, 500,000,000 shares authorized; 45,184,791 and 50,505,320 shares issued and outstanding) | $0 | $1.0M | ||
| Retained earnings | $5.8B | $5.9B | ||
| Accumulated other comprehensive income (loss), net of tax of $(39) and $(75) | -$168.0M | -$385.0M | ||
| Deferred equity compensation | $1.0M | $1.0M | ||
| Total shareholders equity attributable to Assured Guaranty Ltd. | $5.7B | $5.5B | ||
| Non-redeemable noncontrolling interest (Note 8) | $126.0M | $58.0M | ||
| Total shareholders equity | $5.8B | $5.6B | $5.8B | $5.3B |
| Total liabilities and shareholders equity | $12.2B | $11.9B | ||
| Allowance for credit loss | $54.0M | $60.0M | $77.0M | $65.0M |
| Amortized Cost | $6.6B | $6.8B | ||
| Other invested assets, fair value disclosure | $3.0M | $4.0M | ||
| Premiums receivable, allowance for credit loss | $3.0M | $0 | ||
| Financial guaranty variable interest entities' assets, fair value | $172.0M | $147.0M | ||
| Assets of consolidated investment vehicles, fair value disclosure | $167.0M | $99.0M | ||
| Other assets, fair value disclosure | $174.0M | $131.0M | ||
| Financial guaranty variable interest entities' liabilities | $197.0M | $164.0M | ||
| Financial guaranty variable interest entities' liabilities, with recourse | $182.0M | $155.0M | ||
| Financial guaranty variable interest entities' liabilities, without recourse | $16.0M | $9.0M | ||
| Other liabilities | $21.0M | $34.0M | ||
| Common stock par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued (in shares) | 45.2M shares | 50.5M shares | ||
| Common stock, shares outstanding (in shares) | 45.2M shares | 50.5M shares | ||
| Accumulated other comprehensive income, tax provision | -$39.0M | -$75.0M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $543.0M | $392.0M | $761.0M |
| Non-cash interest and operating expenses | $66.0M | $66.0M | $58.0M |
| Net amortization of premium (discount) on investments | -$62.0M | -$23.0M | -$37.0M |
| Provision (benefit) for deferred income taxes | -$5.0M | -$4.0M | -$156.0M |
| Net realized investment losses (gains) | $40.0M | -$9.0M | $14.0M |
| Equity in (earnings) losses of investees | -$102.0M | -$62.0M | -$28.0M |
| Fair value gains (losses) on committed capital securities | -$20.0M | $10.0M | $35.0M |
| Fair value losses (gains) on trading securities | -$13.0M | -$52.0M | -$74.0M |
| Gain on sale of asset management subsidiaries | $0 | $0 | -$262.0M |
| Change in premiums receivable, net of premiums and commissions payable | -$18.0M | -$80.0M | -$157.0M |
| Change in unearned premium reserve, net | -$96.0M | $62.0M | $26.0M |
| Change in loss and loss adjustment expense reserve and salvage and subrogation recoverable, net | -$10.0M | -$202.0M | $35.0M |
| Change in current income taxes | $63.0M | -$6.0M | $72.0M |
| Change in credit derivative assets and liabilities, net | -$14.0M | -$21.0M | -$112.0M |
| Distributions from equity method investments | $56.0M | $47.0M | $7.0M |
| Other | -$101.0M | -$19.0M | -$97.0M |
| Purchases of securities | $0 | -$97.0M | -$340.0M |
| Sales of securities | $0 | $41.0M | $675.0M |
| Maturities and paydowns of securities | $0 | $0 | $60.0M |
| Proceeds from (purchases of) money market funds | $0 | $0 | $66.0M |
| Other changes in consolidated investment vehicles | -$68.0M | $4.0M | -$85.0M |
| Net cash flows provided by (used in) operating activities | $259.0M | $47.0M | $461.0M |
| Purchases | -$1.6B | -$1.4B | -$540.0M |
| Sales | $624.0M | $649.0M | $862.0M |
| Maturities and paydowns | $1.3B | $853.0M | $746.0M |
| Purchases | -$3.0M | -$1.0M | -$16.0M |
| Sales | $0 | $0 | $4.0M |
| Maturities and paydowns | $0 | $5.0M | $36.0M |
| Net sales (purchases) of short-term investments with original maturities of less than three months | $326.0M | $437.0M | -$872.0M |
| Sales of fixed-maturity securities, trading | $8.0M | $233.0M | $0 |
| Maturities and paydowns of fixed-maturity securities, trading | $28.0M | $21.0M | $63.0M |
| Purchases of and contributions to other invested assets | -$160.0M | -$119.0M | -$198.0M |
| Sales of and return of capital from other invested assets | $44.0M | $41.0M | $29.0M |
| Paydowns on financial guaranty variable interest entities assets | $20.0M | $23.0M | $175.0M |
| Net proceeds from sale of assets and liabilities held for sale | $49.0M | $0 | $0 |
| Other | $12.0M | -$8.0M | -$3.0M |
| Net cash flows provided by (used in) investing activities | $641.0M | $780.0M | $286.0M |
| Dividends paid | -$68.0M | -$68.0M | -$67.0M |
| Repurchases of common shares | -$500.0M | -$502.0M | -$199.0M |
| Net paydowns of financial guaranty variable interest entities liabilities | -$16.0M | -$375.0M | -$149.0M |
| Issuance of long-term debt, net of issuance costs | $0 | $0 | $345.0M |
| Redemptions and purchases of debt, including make-whole payment | $0 | $0 | -$330.0M |
| Payments related to tax withholding for share-based compensation | -$34.0M | -$30.0M | -$20.0M |
| Other | $2.0M | $2.0M | $1.0M |
| Repayment of warehouse financing debt | $0 | $0 | -$166.0M |
| Distributions to noncontrolling interest from consolidated investment vehicles | $0 | -$10.0M | -$80.0M |
| Other | $0 | $0 | -$5.0M |
| Net cash flows provided by (used in) financing activities | -$616.0M | -$983.0M | -$670.0M |
| Effect of foreign exchange rate changes | $7.0M | -$2.0M | $2.0M |
| Increase (decrease) in cash and cash equivalents and restricted cash | $291.0M | -$158.0M | $79.0M |
| Receipt of fixed-maturity securities, available-for-sale | $9.0M | $0 | $1.0M |
| Contributions from noncontrolling interest | $0 | $0 | $20.0M |
| Distributions to noncontrolling interest | $0 | $0 | $27.0M |
| Assets acquired | $0 | $0 | $437.0M |
| Assets transferred | $0 | $0 | $240.0M |
| Liabilities transferred | $0 | $0 | $66.0M |
No quarter-by-quarter statement was filed.
Corporate structure
ASSURED GUARANTY LTD sits at the top of its group. 14 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of ASSURED GUARANTY LTD
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on ASSURED GUARANTY LTD, latest Apr 28, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on ASSURED GUARANTY LTD, latest Apr 28, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on ASSURED GUARANTY LTD, latest Mar 26, 2026 (8 filings since Feb 9, 2022)
- Wellington Management Company Filed SCHEDULE 13G/A on ASSURED GUARANTY LTD, latest Feb 10, 2026 (5 filings since Feb 4, 2022)
- BlackRock Filed SCHEDULE 13G/A on ASSURED GUARANTY LTD, latest Jul 18, 2025 (5 filings since Jan 28, 2022)
- Franklin Templeton Investments Filed SCHEDULE 13G on ASSURED GUARANTY LTD, latest Feb 26, 2025
- PUTNAM INVESTMENTS LLC Filed SC 13G/A on ASSURED GUARANTY LTD, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on ASSURED GUARANTY LTD, latest Feb 9, 2024 (3 filings since Feb 8, 2022)
- ASSURED GUARANTY LTD Hamilton, Bermuda
- Sound Point Direct Lending BDC Stake · New York, New York
- Sound Point Meridian Capital, Inc. Stake · Wilmington, Delaware, United States
- AG Asset Strategies LLC Subsidiary · Delaware, United States
- ASSURED GUARANTY (EUROPE) SA Subsidiary · Paris, France
- ASSURED GUARANTY CREDIT PROTECTION LTD. Subsidiary · London, United Kingdom
- ASSURED GUARANTY GLOBAL HOLDINGS INC. Subsidiary · New York, New York, United States
- Assured Guaranty Municipal Holdings Inc. Subsidiary · New York, United States
- ASSURED GUARANTY RE LTD. Subsidiary · Hamilton, Bermuda
- ASSURED GUARANTY RE OVERSEAS LTD. Subsidiary · Hamilton, Bermuda
- ASSURED GUARANTY UK LIMITED Subsidiary · London, United Kingdom
- ASSURED GUARANTY US HOLDINGS INC. Subsidiary · New York, New York, United States
- AG FINANCIAL PRODUCTS INC. Subsidiary · New York, New York, United States
- ASSURED GUARANTY INC. Subsidiary · Lutherville Timonium, Maryland, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (2 companies). Each entity in the chart links to its source.
What it owns
What ASSURED GUARANTY LTD reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Marketable securities, current | $903.0M6 Dec 31, 2025 | $1.2B6 Dec 31, 2024 | −26.0% |
Properties, in its own words
Management believes its office space is adequate for its current and anticipated needs. The Company’s office properties are used by its Insurance segment and its Corporate division and include the following:
•Hamilton, Bermuda:
The rest of Item 2
◦approximately 8,700 square feet of office space that serves as the principal executive office of AGL, and as the principal offices of AG Re and AGRO. The lease expires in April 2026 and is renewable at the option of the Company.
•New York, U.S.:
◦155,500 square feet of office space that serves as the principal office of AG. Part of the lease expires in February 2032, with an option, subject to certain conditions, to renew for five years at a fair market rent, and part of the lease expires in December 2032. As of December 31, 2025, approximately 24,000 square feet of this office space was subleased to another tenant.
•London, U.K.:
◦approximately 7,000 square feet of office space that serves as the principal office of AGUK. The lease expires in September 2029, with an option, subject to certain conditions, to renew for five years at a fair market rent.
•Paris, France:
◦approximately 2,800 square feet of office space that serves as the principal office of AGE. The lease expires in March 2029.
•Other: The Company leases other space in San Francisco, California; Asheville, North Carolina; Sydney, Australia; and Singapore.
Item 2 of the 10-K filed Feb 27, 2026.5
Leadership
Who has led ASSURED GUARANTY LTD, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerDominic Frederico Feb 6, 2006 to now14
- ChairDominic Frederico Feb 6, 2006 to now14
- PresidentDominic Frederico Feb 6, 2006 to now14
- PresidentMichael J. Schozer Feb 6, 2006 to Sep 14, 200915
- Chief financial officerBenjamin G. Rosenblum Jan 3, 2024 to now16
- Chief financial officerRobert Bailenson Dec 1, 2011 to Aug 28, 202317
- Chief financial officerRobert B. Mills Feb 6, 2006 to Sep 1, 201118
- Chief operating officerRobert Bailenson Feb 23, 2024 to now19
- Chief operating officerRobert B. Mills Dec 1, 2011 to Feb 11, 201520
Board members and other officers (31)
- Chief Risk OfficerJorge A. Gana Feb 22, 2023 to now21
- Chief Surveillance OfficerHolly Horn Feb 24, 2022 to now22
- Head of Asset Management*David A. Buzen Nov 9, 2020 to Mar 1, 202323
- Chief Accounting Officer*Laura Bieling Mar 18, 2019 to now24
- Chief Investment OfficerAndrew T. Feldstein Oct 1, 2019 to Mar 31, 202025
- Chief Credit OfficerStephen Donnarumma Feb 23, 2018 to now26
- Executive Officer,*Bruce E. Stern Feb 13, 2012 to Nov 14, 201927
- Chief Risk OfficerHoward Albert Feb 13, 2012 to Dec 5, 202228
- Chief Surveillance OfficerRussell B. Brewer Ii. Feb 13, 2012 to May 20, 202129
- Former Pres. of subsidiary***Michael J. Schozer Dec 8, 2009 to Dec 8, 200930
- Chief Accounting OfficerRobert Bailenson Feb 6, 2006 to Sep 1, 201131
- Board memberAntonio Ursano Jr. May 5, 2025 to now32
- Board memberMark Batten Feb 22, 2024 to now33
- Board memberCourtney C. Shea May 6, 2021 to now34
- Board memberLorin Radtke May 6, 2021 to now35
- Board memberMichelle McCloskey May 6, 2021 to May 5, 202236
- Board memberAlan J. Kreczko Aug 5, 2015 to now37
- Board memberThomas W. Jones Aug 5, 2015 to now38
- Board memberSimon W. Leathes May 10, 2013 to May 3, 202439
- Board memberBonnie L. Howard Aug 1, 2012 to now40
- Board memberFrancisco L. Borges Aug 9, 2007 to now41
- Board memberG. Lawrence Buhl Mar 9, 2006 to May 3, 202442
- Board memberJohn G. Heimann Mar 9, 2006 to Jun 5, 200743
- Board memberKane Michael T. O. Mar 9, 2006 to May 5, 202244
- Board memberNeil Baron Mar 9, 2006 to May 8, 201445
- Board memberPatrick W. Kenny Mar 9, 2006 to May 3, 202446
- Board memberRobin Monro-Davies Mar 9, 2006 to May 7, 201547
- Board memberStephen A. Cozen Mar 9, 2006 to May 5, 201648
- Board memberDonald H. Layton May 8, 2006 to Mar 12, 201249
- General counselLing Chow Jan 4, 2018 to now50
- General counselJames M. Michener Feb 6, 2006 to Feb 6, 201851
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- AG Asset Strategies LLC Delaware4
- Assured Guaranty (Europe) S.A. France4
- Assured Guaranty Inc. Maryland4
- Assured Guaranty Municipal Holdings Inc. New York4
- Assured Guaranty Re Ltd. Bermuda4
- Assured Guaranty Re Overseas Ltd. Bermuda4
- Assured Guaranty UK Limited England4
- Assured Guaranty US Holdings Inc. Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- AGC HOLDINGS LTDDec 23, 2003 to Dec 23, 20033
Timeline
- Aug 7, 20268-K Regulation FD disclosure52
- Aug 6, 20268-K Results of operations53
- May 8, 20268-K Regulation FD disclosure54
- May 7, 20268-K Results of operations55
- May 5, 20268-K Shareholder vote56
- Mar 23, 20268-K Results of operations57
- Mar 19, 20268-K Executive or director change58
- Feb 27, 20268-K Results of operations; Regulation FD disclosure59
- Feb 26, 20268-K Results of operations60
- Jan 21, 20268-K Entered a material agreement; Regulation FD disclosure61
- Nov 7, 20258-K Regulation FD disclosure62
- Nov 6, 20258-K Results of operations63
- Feb 6, 2006New chief executive Dominic Frederico becomes CEO14
- Aug 21, 2003Founded ASSURED GUARANTY LTD is founded2
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $2.57 a share, on Nov 6, 2025.64
When it reported results
- Aug 6, 2026Reported quarterly or annual results53
- May 7, 2026Reported quarterly or annual results55
- Mar 23, 2026Reported quarterly or annual results57
- Feb 27, 2026Reported quarterly or annual results59
- Feb 26, 2026Reported quarterly or annual results60
- Nov 6, 2025Reported quarterly or annual results63
- Aug 7, 2025Reported quarterly or annual results65
- May 8, 2025Reported quarterly or annual results66
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
396 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 65 major events, 233 insider forms, 27 large holders, 51 other. The latest 20:
- Oct 2, 20263 PRIMARY DOCUMENT EDGAR
- Aug 21, 20264 PRIMARY DOCUMENT EDGAR
- Aug 7, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Jul 6, 20264 PRIMARY DOCUMENT EDGAR
- Jun 23, 2026144 EDGAR
- Jun 18, 20264 PRIMARY DOCUMENT EDGAR
- Jun 17, 2026144 EDGAR
- Jun 1, 20264 PRIMARY DOCUMENT EDGAR
- May 29, 2026144 EDGAR
- May 29, 20264 PRIMARY DOCUMENT EDGAR
- May 28, 2026S-3ASR EDGAR
- May 22, 20264 PRIMARY DOCUMENT EDGAR
- May 12, 20264 PRIMARY DOCUMENT EDGAR
- May 11, 2026144 EDGAR
- May 8, 20268-K AG FINANCIAL SUPPLEMENT EDGAR
- May 8, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- May 5, 20268-K EDGAR
The 396 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
38 open-market trades by officers, directors and large owners since October 2021: 1 buys and 37 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 29, 2026 | Radtke LorinDirector | Sale | 1,047 | $74.32 | $77.8K | Form 4 |
| May 11, 2026 | Bailenson RobertChief Operating Officer | Sale | 50,000 | $78.62 | $3.9M | Form 4 |
| Mar 30, 2026 | BORGES FRANCISCO LDirector | Sale | 123,750 | $80.22 | $9.9M | Form 4 |
| Mar 23, 2026 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 29,998 | $81.41 | $2.4M | Form 4 |
| Mar 20, 2026 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 20,002 | $81.06 | $1.6M | Form 4 |
| Mar 4, 2026 | Radtke LorinDirector | Sale | 1,219 | $87.14 | $106.2K | Form 4 |
| Sep 23, 2025 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 25,000 | $83.83 | $2.1M | Form 4 |
| Aug 11, 2025 | Bailenson RobertChief Operating Officer | Sale | 40,000 | $81.51 | $3.3M | Form 4 |
| May 20, 2025 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 10,438 | $86.13 | $899.0K | Form 4 |
| May 19, 2025 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 71,917 | $86.11 | $6.2M | Form 4 |
| May 13, 2025 | Bieling LauraChief Accounting Officer | Sale | 2,649 | $87.76 | $232.5K | Form 4 |
| Dec 10, 2024 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 34,000 | $88.33 | $3.0M | Form 4 |
| Nov 26, 2024 | Bailenson RobertChief Operating Officer | Sale | 25,000 | $93.44 | $2.3M | Form 4 |
| Sep 26, 2024 | Omura YukikoDirector | Sale | 3,599 | $79.73 | $286.9K | Form 4 |
| Sep 4, 2024 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 31,000 | $80.01 | $2.5M | Form 4 |
| Jun 20, 2024 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 40,000 | $78.12 | $3.1M | Form 4 |
| May 9, 2024 | Bailenson RobertChief Operating Officer | Sale | 30,000 | $79.94 | $2.4M | Form 4 |
| May 9, 2024 | Bieling LauraChief Accounting Officer | Sale | 3,901 | $79.93 | $311.8K | Form 4 |
| Mar 20, 2024 | FREDERICO DOMINICPresident/CEO/Deputy Chairman | Sale | 55,000 | $92.43 | $5.1M | Form 4 |
| Dec 15, 2023 | BUHL G LAWRENCEDirector | Sale | 2,500 | $71.26 | $178.2K | Form 4 |
All 38 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 28, 202667
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 28, 202668
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 9, 2022 to Mar 26, 202669
- Wellington Management CompanySCHEDULE 13G/A, 5 filings Feb 4, 2022 to Feb 10, 202670
- BlackRockSCHEDULE 13G/A, 5 filings Jan 28, 2022 to Jul 18, 202571
- Franklin Templeton InvestmentsSCHEDULE 13G, 1 filing Feb 26, 202572
- PUTNAM INVESTMENTS LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202473
- DIMENSIONAL FUND ADVISORS LPSC 13G/A, 3 filings Feb 8, 2022 to Feb 9, 202474
Stakes it holds
ASSURED GUARANTY LTD has told the SEC it owns more than 5% of 2 companies, latest first (Schedules 13D and 13G).
- Sound Point Direct Lending BDCSCHEDULE 13G Feb 27, 202675
- Sound Point Meridian Capital, Inc.SC 13G Jul 3, 202476
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Dominic J. Frederico, | $1.2M | $13.8M77 | |
| 2025 | Robert A. Bailenson, | $900.0K | $9.6M77 | |
| 2025 | Ling Chow, | $675.0K | $6.2M77 | |
| 2025 | Benjamin G. Rosenblum | $675.0K | $4.6M77 | |
| 2025 | Stephen Donnarumma, | $600.0K | $3.3M77 | |
| 2024 | President and | $1.2M | $14.9M77 | |
| 2024 | Chief Operating Officer | $900.0K | $6.2M77 | |
| 2024 | General Counsel | $650.0K | $4.4M77 | |
| 2024 | Chief Financial Officer | $650.0K | $4.1M77 | |
| 2024 | Chief Credit Officer | $600.0K | $3.4M77 | |
| 2023 | Chief Executive Officer | $1.2M | $13.5M77 | |
| 2023 | Chief Operating Officer | $800.0K | $5.3M77 | |
| 2023 | General Counsel | $600.0K | $3.9M77 | |
| 2023 | Chief Credit Officer | $525.0K | $3.0M77 |
SEC filer profile
How ASSURED GUARANTY LTD is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARASSURED GUARANTY LTD1
- CIK0001273813
- Employer ID (EIN)98-04299915
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inBermuda5
- Fiscal year endsDecember 311
- Industry code (SIC)6351 Surety Insurance1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address30 Woodbourne Ave, 5Th Floor, Hamilton Bermuda, D0 HM081
- Phone441-279-57001
- Shares outstanding43,979,208 as of Aug 5, 202612
- Public float$4.0B as of Jun 30, 20255
- AuditorPricewaterhouseCoopers LLP, New York, New York PCAOB ID 238; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceDec 23, 20031
- Filings2,345 in all: 4 (1,406), 8-K (383), SC 13G/A (84), 10-Q (68), 3 (55), UPLOAD (32), CORRESP (31), DEFA14A (28)1
All 49 form types
SC 13G (25), 10-K (22), 144 (22), DEF 14A (22), 5 (18), ARS (15), S-8 (12), S-3ASR (10), SC 13D/A (10), 424B3 (9), 424B2 (8), FWP (8), 424B7 (7), 8-A12B (5), 8-K/A (5), S-1/A (5), SCHEDULE 13G (5), 4/A (4), PRE 14A (4), SCHEDULE 13G/A (4), 424B5 (3), CERT (3), POS AM (3), POSASR (3), 10-K/A (2), 10-Q/A (2), 424B1 (2), CERTNYS (2), DEFR14A (2), EFFECT (2), NT 10-Q (2), S-1 (2), S-3 (2), 144/A (1), 25-NSE (1), 305B2 (1), DEFM14A (1), DEFN14A (1), PREM14A (1), S-3/A (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Mar 18, 2026
Latest 8-K (8-K) Aug 7, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Shares | AGO | New York Stock Exchange |
| Assured Guaranty US Holdings Inc. 6.125% Senior Notes due 2028 (and the related guarantee of Registrant) | AGO/28 | New York Stock Exchange |
| Assured Guaranty US Holdings Inc. 3.150% Senior Notes due 2031 (and the related guarantee of Registrant) | AGO/31 | New York Stock Exchange |
| Assured Guaranty US Holdings Inc. 3.600% Senior Notes due 2051 (and the related guarantee of Registrant) | AGO/51 | New York Stock Exchange |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks ASSURED GUARANTY LTD names in Item 1A of its 10-K filed Feb 27, 2026: 58 risks under these headings, as written.5
- Developments in the global financial markets, political systems and the economy generally may adversely affect the Company’s financial condition, results of operations, capital, liquidity, business prospects and share price.
- Public finance obligors that have issued obligations insured or reinsured by the Company are experiencing, or may in the future experience, significant budget deficits, and pension and revenue shortfalls, and difficulties in obtaining additional financing, that could result in increased credit losses or liquidity claims and increased rating agency capital charges on those insured obligations.
- The Company may be subjected to significant risks from large individual or correlated financial guaranty insurance exposures.
- Losses on obligations insured by the Company significantly in excess of those expected by the Company or recoveries significantly below those expected by the Company could have a negative effect on the Company’s financial condition, results of operations, capital, business prospects and share price.
- A higher U.S. debt-to-GDP ratio and/or downgrades to the U.S. government’s sovereign credit ratings, or to the credit ratings of instruments issued, insured or guaranteed by related institutions, agencies or instrumentalities, could result in a deterioration in general economic conditions, increased credit losses in the Company’s insured portfolio, impairments or losses in its investment portfolio, and other risks to the Company and its credit ratings that the Company is not able to predict.
- Changes in attitudes toward debt repayment could negatively impact the Company’s insurance portfolio.
- Narrow credit spreads could adversely affect demand for financial guaranty insurance and annuity reinsurance.
- Credit losses and changes in interest rates could adversely affect the Company’s investments.
- Global climate change may adversely impact the Company’s insurance portfolio and investments.
- Estimates of expected financial guaranty insurance losses to be paid (recovered), including losses with respect to related legal proceedings, are subject to uncertainties and actual amounts may be different, causing the Company to reserve either too little or too much for future losses.
- The valuation of many of the Company’s assets and liabilities includes methodologies, estimates and assumptions that are subjective and could result in changes to valuations of the Company’s assets and liabilities that may materially adversely affect the Company’s financial condition, results of operations, capital, business prospects and share price.
- The Company makes assumptions when pricing its life and annuity reinsurance products relating to longevity, mortality, policy lapses, withdrawals, surrenders, investment returns and expenses, and significant deviations in experience could negatively affect the Company’s financial condition and results of operations.
The other 46 risks
- Competition in the Company’s industries may adversely affect its financial condition, results of operations, capital, business prospects and share price.
- Strategic transactions may not result in the benefits anticipated.
- The Company’s investments in Sound Point are subject to the risks of Sound Point’s business that may adversely affect the Company’s financial condition, results of operations, capital, business prospects and share price.
- The Company’s interest in Sound Point is subject to the risks normally associated with a noncontrolling interest.
- Alternative investments, including allocations of investments to Sound Point and the exclusivity arrangement with Sound Point, may not result in the benefits anticipated, and may expose it to increased credit, interest rate, liquidity, reputational and other risks.
- A downgrade of the financial strength or financial enhancement ratings of any of the Company’s insurance or reinsurance subsidiaries may adversely affect its business prospects.
- The Assured Life Re Acquisition may negatively impact the Company, including how it is perceived by its investors, regulators, rating agencies or obligors it insures, as well as Assured Life Re’s business relationships.
- Entering the life and annuity reinsurance business may present integration risks and other risks specific to the life and annuity reinsurance business that could have a negative effect on the Company’s business, results of operations or financial condition.
- Fluctuations in foreign exchange rates may adversely affect the Company’s financial position and results of operations.
- The Company’s underwriting of insurance in non-U.S. markets and/or covering new sectors or classes of business may expose it to less predictable political, credit and legal risks.
- The Company is dependent on members of senior management and other key employees and the loss of any of these individuals, or the delay or inability to develop or recruit suitable replacements, could adversely affect its business.
- The Company is dependent on its information technology and that of certain third parties, and a cyberattack, security breach or failure in the Company’s or a third party provider’s information technology system, or a data privacy breach of the Company’s or a vendor’s information technology system, could adversely affect the Company’s business.
- Evolving cybersecurity, privacy and data security regulations could adversely affect the Company’s business.
- The Company continues to explore the use of Artificial Intelligence in some of its business operations, and challenges with properly managing the use of Artificial Intelligence, compliance with new laws and regulations applicable to Artificial Intelligence, difficulties implementing Artificial Intelligence technologies efficiently and effectively, and challenges to the Company’s competitive position from faster or more effective use of Artificial Intelligence by competitors or other third-parties, could adversely affect the Company’s business.
- Errors in, overreliance on or misuse of models may result in financial loss, reputational harm or adverse regulatory action.
- Significant claim payments may reduce the Company’s liquidity.
- The Company may face a sudden need to raise additional capital as a result of insurance losses substantially in excess of the stress scenarios for which it plans, or as a result of changes in regulatory or rating agency capital requirements applicable to its insurance subsidiaries, which additional capital may not be available or may be available only on unfavorable terms.
- Large insurance losses could increase substantially the Company’s insurance subsidiaries’ leverage ratios, which may prevent them from writing new insurance.
- The Company’s holding companies’ ability to meet their obligations may be constrained.
- The ability of AGL and its subsidiaries to meet their liquidity needs may be limited.
- Losses arising from asset/liability mismatch in the Company’s annuity reinsurance business could have an adverse effect on its financial condition, results of operations, and ability to meets its obligations under annuity reinsurance contracts.
- Changes in U.S. tax laws could reduce the demand or profitability of financial guaranty insurance, or negatively impact the Company’s investments.
- Certain of the Company’s non-U.S. subsidiaries may be subject to U.S. tax.
- AGL may become, and AG Re and AGRO are, subject to taxes in Bermuda, which may adversely affect the Company’s future results of operations and an investment in the Company.
- U.S. Persons who hold 10% or more of AGL’s shares directly or through non-U.S. entities may be subject to taxation under the U.S. CFC rules.
- U.S. Persons who hold shares may be subject to U.S. income taxation at ordinary income rates on their proportionate share of the Company’s RPII.
- U.S. tax-exempt shareholders may be subject to the unrelated business taxable income rules with respect to certain insurance income of the Foreign Insurance Subsidiaries.
- U.S. Persons who hold AGL’s shares will be subject to adverse tax consequences if AGL is considered to be PFIC for U.S. federal income tax purposes.
- Changes in U.S. federal income tax law may adversely affect the Company and an investment in AGL’s common shares.
- An ownership change under Section 382 of the Code could have adverse U.S. federal tax consequences.
- A change in AGL’s U.K. tax residence or its ability to otherwise qualify for the benefits of income tax treaties to which the U.K. is a party could adversely affect an investment in AGL’s common shares.
- Changes in U.K. tax law or in AGL’s ability to satisfy all the conditions for exemption from U.K. taxation on dividend income or capital gains in respect of its direct subsidiaries could affect an investment in AGL’s common shares.
- An adverse adjustment under U.K. legislation governing the taxation of U.K. tax resident holding companies on the profits of their non-U.K. subsidiaries could adversely impact Assured Guaranty’s tax liability.
- An adverse adjustment under U.K. transfer pricing legislation or the imposition of diverted profits tax could adversely impact Assured Guaranty’s tax liability.
- Assured Guaranty’s financial results may be affected by measures taken in response to the OECD BEPS project.
- Changes in, or inability to comply with, applicable laws and regulations could adversely affect the Company’s financial condition, results of operations, capital, liquidity, business prospects and share price.
- Changes in applicable laws or regulations or governmental policies may adversely impact the ability of issuers to satisfy obligations insured or reinsured by the Company.
- Legislation, regulation, determinations made by legal or regulatory authorities, or litigation arising out of the struggles of distressed obligors may adversely impact obligations insured or reinsured by the Company, the Company’s legal rights as creditor and its investments.
- AGL’s ability to pay dividends and fund share repurchases and other activities may be constrained by certain insurance regulatory requirements and restrictions.
- Applicable insurance laws may make it difficult to effect a change of control of AGL.
- An inability to obtain accurate and timely financial information from Sound Point or other alternative investment managers may impair the Company’s ability to comply with reporting obligations under federal securities law.
- Changes in the fair value of the Company’s insured credit derivatives portfolio, CCS, FG VIEs, alternative investments, including those accounted for as CIVs, and/or the consolidation or deconsolidation of one or more FG VIEs and/or CIVs during a financial reporting period, may subject its results of operations to volatility.
- Change in industry and other accounting practices could adversely affect the Company’s financial condition, results of operations, business prospects and share price.
- The market price of AGL’s common shares may be volatile, and the value of an investment in the Company may decline.
- Provisions in the Code and AGL’s Bye-Laws may reduce the voting rights of its common shares.
- Provisions in AGL’s Bye-Laws may restrict the ability to transfer common shares, and may require shareholders to sell their common shares.
Legal proceedings
Information pertaining to legal proceedings is provided in the “Legal Proceedings” and “Litigation” sections of Part II, Item 8, Financial Statements and Supplementary Data, Note 17, Contingencies, the “Puerto Rico Litigation” and “Recovery Litigation” sections of Note 4, Expected Loss to be Paid (Recovered), and is incorporated by reference herein.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGARMichael J. Schozer, President
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- 21SEC EDGARJorge A. Gana, Chief Risk Officer
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- 27SEC EDGARBruce E. Stern, Executive Officer,*
- 28SEC EDGARHoward Albert, Chief Risk Officer
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- 32SEC EDGARAntonio Ursano Jr., Board member
- 33SEC EDGARMark Batten, Board member
- 34SEC EDGARCourtney C. Shea, Board member
- 35SEC EDGARLorin Radtke, Board member
- 36SEC EDGARMichelle McCloskey, Board member
- 37SEC EDGARAlan J. Kreczko, Board member
- 38SEC EDGARThomas W. Jones, Board member
- 39SEC EDGARSimon W. Leathes, Board member
- 40SEC EDGARBonnie L. Howard, Board member
- 41SEC EDGARFrancisco L. Borges, Board member
- 42SEC EDGARG. Lawrence Buhl, Board member
- 43SEC EDGARJohn G. Heimann, Board member
- 44SEC EDGARKane Michael T. O., Board member
- 45SEC EDGARNeil Baron, Board member
- 46SEC EDGARPatrick W. Kenny, Board member
- 47SEC EDGARRobin Monro-Davies, Board member
- 48SEC EDGARStephen A. Cozen, Board member
- 49SEC EDGARDonald H. Layton, Board member
- 50SEC EDGARLing Chow, General counsel
- 51SEC EDGARJames M. Michener, General counsel
- 52SEC EDGARRegulation FD disclosure
- 53SEC EDGARResults of operations
- 54SEC EDGARRegulation FD disclosure
- 55SEC EDGARResults of operations
- 56SEC EDGARShareholder vote
- 57SEC EDGARResults of operations
- 58SEC EDGARExecutive or director change
- 59
- 60SEC EDGARResults of operations
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- 62SEC EDGARRegulation FD disclosure
- 63SEC EDGARResults of operations
- 64NasdaqNasdaq calendar
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