v3.26.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Net earned premiums $ 112 $ 94 $ 296 $ 274
Net investment income 103 94 293 270
Net realized investment gains (losses) (11) (10) (36) (32)
Fair value gains (losses) on derivatives 10 5 17 110
Fair value gains (losses) on committed capital securities (2) 8 (3) 9
Gains (losses) on financial guaranty variable interest entities 3 3 0 6
Fair value gains (losses) on consolidated investment vehicles 0 17 9 40
Foreign exchange gains (losses) on remeasurement (1) (23) (22) 93
Fair value gains (losses) on trading securities (2) 8 11 11
Asset management revenues 0 6 94 24
Other income (loss) 2 5 11 28
Total revenues 214 207 670 833
Expenses        
Loss and loss adjustment expenses (benefit) 2 (30) 23 38
Benefit expense for annuity reinsurance contracts 10 0 25 0
Interest expense 22 22 66 67
Amortization of deferred acquisition costs 3 6 13 16
Employee compensation and benefit expenses 51 50 171 160
Asset management expenses 0 4 68 17
Other operating expenses 39 40 123 114
Total expenses 127 92 489 412
Income (loss) before income taxes and equity in earnings (losses) of investees 87 115 181 421
Equity in Earnings (Losses) of Investees 12 20 32 76
Income (loss) before income taxes 99 135 213 497
Less: Provision (benefit) for income taxes 19 21 8 92
Net income (loss) 80 114 205 405
Less: Noncontrolling interest 2 9 0 21
Net income (loss) attributable to Assured Guaranty Ltd. $ 78 $ 105 $ 205 $ 384
Earnings per share:        
Basic (in dollars per share) $ 1.76 $ 2.20 $ 4.59 $ 7.82
Diluted (in dollars per share) $ 1.75 $ 2.18 $ 4.55 $ 7.73