v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed-maturity securities, available-for-sale, at fair value, net of allowance for credit loss of $72 and $54 (amortized cost of $7,147 and $6,572) $ 6,817 $ 6,369
Fixed-maturity securities, trading, at fair value 131 124
Short-term investments, at fair value 792 903
Other invested assets (includes $3 and $3, at fair value) 1,190 1,091
Total investments 8,930 8,487
Cash 310 388
Premiums receivable, net of commissions payable, net of allowance for credit losses of $7 and $3 1,523 1,572
Funds withheld, at fair value 296 0
Deferred acquisition costs 201 192
Salvage and subrogation recoverable 428 449
Financial guaranty variable interest entities’ assets (includes $164 and $172, at fair value) 198 212
Assets of consolidated investment vehicles (includes $– and $167, at fair value) 0 175
Other assets (includes $187 and $174, at fair value) 755 701
Total assets 12,641 12,176
Liabilities    
Unearned premium reserve 3,600 3,625
Loss and loss adjustment expense reserve 306 309
Future policy benefits for annuity reinsurance contracts 484 0
Policyholder account balances for annuity reinsurance contracts 256 0
Long-term debt 1,706 1,704
Financial guaranty variable interest entities’ liabilities (includes $147 and $197, at fair value, $172 and $182 with recourse, $16 and $16 without recourse) 188 198
Other liabilities (includes $27 and $21, at fair value) 519 551
Total liabilities 7,059 6,387
Commitments and contingencies (Notes 4, 5, 9 and 13)
Shareholders’ equity    
Common shares ($0.01 par value, 500,000,000 shares authorized; 44,055,227 and 45,184,791 shares issued and outstanding) 0 0
Retained earnings 5,809 5,830
Accumulated other comprehensive income (loss), net of tax of $(55) and $(39) (251) (168)
Deferred equity compensation 1 1
Total shareholders’ equity attributable to Assured Guaranty Ltd. 5,559 5,663
Non-redeemable noncontrolling interest (Note 10) 23 126
Total shareholders’ equity 5,582 5,789
Total liabilities and shareholders’ equity $ 12,641 $ 12,176