Assured Guaranty Ltd. Reports Results for Fourth Quarter 2025 and Full Year 2025

About this update from Assured Guaranty Ltd.

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Present value of new business production (PVP) (2) was $92 million for fourth quarter 2025.","length":175,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Return of Capital to Shareholders: Fourth quarter 2025 capital returned to shareholders was $147 million, consisting of the repurchase of 1.5 million shares for $131 million, and dividends of $16 million.","length":204,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":889,"olType":false},{"type":"text","content":" Full Year (FY) 2025 ","length":19,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" GAAP Highlights: Net income attributable to Assured Guaranty Ltd. was $503 million, or $10.26 per share, for FY 2025.","length":117,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Non-GAAP Highlights: Adjusted operating income was $445 million, or $9.08 per share, for FY 2025.","length":97,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" New Business: GWP were $256 million and PVP was $286 million for FY 2025.","length":73,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Return of Capital to Shareholders: FY 2025 capital returned to shareholders was $569 million, consisting of the repurchase of 5.8 million shares for $500 million, and dividends of $69 million.","length":192,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":479,"olType":false},{"type":"text","content":" HAMILTON, Bermuda, February 26, 2026 --( BUSINESS WIRE )--Assured Guaranty Ltd. (NYSE: AGO) (AGL and, together with its subsidiaries, Assured Guaranty or the Company) announced today its financial results for the three-month period ended December 31, 2025 (fourth quarter 2025) and the year ended December 31, 2025 (FY 2025).","length":322,"tagName":"p"},{"type":"text","content":""At year end 2025, Assured Guaranty again reached record highs in our key shareholder value metrics," said Dominic Frederico, President and CEO. "Year-over-year, shareholders’ equity per share rose 15% to $125.32, adjusted operating shareholders’ equity per share rose over 10% to $126.78, and adjusted book value per share increased 10% to $186.43.","length":364,"tagName":"p"},{"type":"text","content":""In 2025, Assured Guaranty earned net income per share of $10.26, 49% higher than in 2024, and adjusted operating income per share grew to $9.08, a 28% year-over-year increase, as we continued to create significant future earnings from financial guaranty originations in U.S. public finance, non-U.S. infrastructure finance and global structured finance.","length":359,"tagName":"p"},{"type":"text","content":""We led the U.S. municipal bond insurance market in 2025 with 58.5% of new issue insured par sold, and in the secondary market we saw strong results insuring $2.0 billion of par, which is almost three-and-a-half times the amount we insured in 2024. In looking toward par and PVP production in 2026, we have a robust transaction pipeline and are expecting strong results from each of our three financial guaranty product lines.","length":431,"tagName":"p"},{"type":"readMore"},{"type":"text","content":""In our capital management program, we repurchased 11.5% of the common shares that were outstanding on December 31, 2024, and met our 2025 target of $500 million in common share repurchases.","length":195,"tagName":"p"},{"type":"text","content":""Additionally, on January 21, 2026, we entered the annuity reinsurance market by acquiring a life and annuity reinsurance company, which we renamed Assured Life Re. This furthers our strategic objective to diversify our revenue sources in support of our future growth."","length":279,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:4%;padding-right:0.0px;text-align:left;vertical-align:top;","val":[{"type":"text","content":"(1)","length":3,"tagName":"p","attribs":{}}]},{"colspan":"2","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":"All per share information for net income and adjusted operating income is based on diluted shares.","length":98,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;text-align:left;vertical-align:top;","val":[{"type":"text","content":"(2)","length":3,"tagName":"p","attribs":{}}]},{"colspan":"2","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":"Please see "Explanation of Non-GAAP Financial 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