Assured Guaranty Reports Q3 Financial Results
Assured Guaranty Ltd, together with its subsidiaries, announced their financial results for the three-month period ended September 30, 2025.
A spokesperson said, “Assured Guaranty continued to build shareholder value during the third quarter and first nine months of 2025. We attained record highs for shareholders’ equity, adjusted operating shareholders’ equity and adjusted book value on a per-share basis. Year-to-date through September 30, 2025, Assured Guaranty has earned net income of $7.73 per share, 20% higher than in last year’s comparable period, and adjusted operating income of $6.77 per share, up 17%.
“Par sold in the U.S. public finance market for the first nine months of the year reached a record level for a first nine months period. We guaranteed $21 billion of total par, which included four times the par amount of municipal secondary market policies than we wrote in the first three quarters of last year.
“Third quarter production was strong. Our three financial guaranty businesses – U.S. public finance, non-U.S. public finance and global structured finance – together produced $75 million of GWP and $91 million of PVP in third quarter 2025. GWP increased by 23%, while PVP increased by 44%, compared with the third quarter of last year, and also increased 25% and 77%, respectively, compared with the average GWP and PVP for the first two quarters of 2025. The increases in third quarter 2025 over the averages for the first two quarters were largely due to a resurgence of triple-B municipal issuance, where we insured a number of larger transactions.
“We also saw positive results in our loss development during the third quarter, with a net economic benefit of $38 million primarily related to legacy RMBS exposure and non-U.S. public finance exposure.
“In capital management, as of November 5, 2025, the Company had repurchased 9.7% of the shares that were outstanding on December 31, 2024. On November 5, 2025, our Board of Directors authorized the repurchase of an additional $100 million of common shares.”
