v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Investments:    
Fixed-maturity securities, available-for-sale, at fair value, net of allowance for credit loss of $82 and $54 (amortized cost of $7,135 and $6,572) $ 6,506 $ 6,369
Fixed-maturity securities, trading, at fair value 85 124
Short-term investments, at fair value 950 903
Other invested assets (includes $3 and $3, at fair value) 1,251 1,091
Total investments 8,792 8,487
Cash 227 388
Premiums receivable, net of commissions payable, net of allowance for credit losses of $6 and $3 1,542 1,572
Funds withheld, at fair value 267 0
Deferred acquisition costs 209 192
Salvage and subrogation recoverable 454 449
Financial guaranty variable interest entities’ assets (includes $158 and $172, at fair value) 192 212
Assets of consolidated investment vehicles (includes $– and $167, at fair value) 0 175
Other assets (includes $180 and $174, at fair value) 752 701
Total assets 12,435 12,176
Liabilities    
Unearned premium reserve 3,626 3,625
Loss and loss adjustment expense reserve 280 309
Future policy benefits for annuity reinsurance contracts 459 0
Policyholder account balances for annuity reinsurance contracts 248 0
Long-term debt 1,707 1,704
Financial guaranty variable interest entities’ liabilities (includes $140 and $197, at fair value, $164 and $182 with recourse, $15 and $16 without recourse) 179 198
Other liabilities (includes $24 and $21, at fair value) 508 551
Total liabilities 7,007 6,387
Commitments and contingencies (Notes 4, 5, 9 and 13)
Shareholders’ equity    
Common shares ($0.01 par value, 500,000,000 shares authorized; 43,956,811 and 45,184,791 shares issued and outstanding) 0 0
Retained earnings 5,868 5,830
Accumulated other comprehensive income (loss), net of tax of $(105) and $(39) (466) (168)
Deferred equity compensation 1 1
Total shareholders’ equity attributable to Assured Guaranty Ltd. 5,403 5,663
Non-redeemable noncontrolling interest (Note 10) 25 126
Total shareholders’ equity 5,428 5,789
Total liabilities and shareholders’ equity $ 12,435 $ 12,176