v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Net earned premiums $ 102 $ 89 $ 184 $ 180
Net investment income 98 89 190 176
Net realized investment gains (losses) (10) (6) (25) (22)
Fair value gains (losses) on derivatives 5 1 7 105
Fair value gains (losses) on committed capital securities (7) (1) (1) 1
Gains (losses) on financial guaranty variable interest entities 2 2 (3) 3
Fair value gains (losses) on consolidated investment vehicles 0 4 9 23
Foreign exchange gains (losses) on remeasurement (2) 79 (21) 116
Fair value gains (losses) on trading securities 7 2 13 3
Asset management revenues 0 13 94 18
Other income (loss) 0 9 9 23
Total revenues 195 281 456 626
Expenses        
Loss and loss adjustment expenses (benefit) 4 28 21 68
Benefit expense for annuity reinsurance contracts 8 0 15 0
Interest expense 22 23 44 45
Amortization of deferred acquisition costs 5 5 10 10
Employee compensation and benefit expenses 57 50 120 110
Asset management expenses 0 9 68 13
Other operating expenses 39 36 84 74
Total expenses 135 151 362 320
Income (loss) before income taxes and equity in earnings (losses) of investees 60 130 94 306
Equity in Earnings (Losses) of Investees (11) 3 20 56
Income (loss) before income taxes 49 133 114 362
Less: Provision (benefit) for income taxes 9 27 (11) 71
Net income (loss) 40 106 125 291
Less: Noncontrolling interest 1 3 (2) 12
Net income (loss) attributable to Assured Guaranty Ltd. $ 39 $ 103 $ 127 $ 279
Earnings per share:        
Basic (in dollars per share) $ 0.88 $ 2.10 $ 2.82 $ 5.60
Diluted (in dollars per share) $ 0.88 $ 2.08 $ 2.80 $ 5.54