New Risk • May 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (€16m sold). Recent Insider Transactions • May 20
Chief Operating Officer recently sold €3.3m worth of stock On the 11th of May, Robert Bailenson sold around 50k shares on-market at roughly €66.71 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €8.7m. Robert has been a net seller over the last 12 months, reducing personal holdings by €6.1m. Annuncio • May 02
Assured Guaranty Ltd. announces Quarterly dividend, payable on May 29, 2026 Assured Guaranty Ltd. announced Quarterly dividend of USD 0.3800 per share payable on May 29, 2026, ex-date on May 15, 2026 and record date on May 15, 2026. Annuncio • Apr 23
Assured Guaranty Ltd. to Report Q1, 2026 Results on May 07, 2026 Assured Guaranty Ltd. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 07, 2026 Annuncio • Mar 20
Assured Guaranty Ltd. Announces Retirement of Stephen Donnarumma as Chief Credit Officer, Effective September 30, 2026 Assured Guaranty Ltd. announced that on March 13, 2026, Stephen Donnarumma, the Chief Credit Officer of Assured Guaranty Ltd., notified the Company of his decision to retire from his position, effective September 30, 2026. From October 1, 2026 until April 2, 2027, Mr. Donnarumma will continue to serve the Company as a senior advisor to its Chief Executive Officer. Mr. Donnarumma joined the Company in 1993 and has served as Chief Credit Officer of Assured Guaranty Inc., a wholly owned subsidiary of Assured Guaranty Ltd., since 2007 and as Chief Credit Officer of Assured Guaranty Ltd. since 2018. Annuncio • Mar 19
Assured Guaranty Ltd., Annual General Meeting, May 01, 2026 Assured Guaranty Ltd., Annual General Meeting, May 01, 2026. Location: 6 bevis marks, ec3a 7ba, united kingdom, london United Kingdom Annuncio • Feb 20
Assured Guaranty Ltd. Raises Quarterly Dividend, Payable on March 20, 2026 Assured Guaranty Ltd. declared a quarterly dividend of $0.38 per common share, an increase of 12% from the quarterly dividend of $0.34 per common share that was declared on November 5, 2025. The dividend is payable on March 20, 2026 to shareholders of record at the close of business on March 6, 2026. Annuncio • Feb 12
Assured Guaranty Ltd. to Report Q4, 2025 Results on Feb 26, 2026 Assured Guaranty Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 26, 2026 Annuncio • Jan 22
Assured Guaranty Ltd. (NYSE:AGO) acquired Warwick Re Limited from ITE Management L.P., Blue Owl GP Stakes V, Blue Owl Capital, Investment Arm, Axonic Capital LLC and Axonic Funding (Cayman) LP for approximately $160 million. Assured Guaranty Ltd. (NYSE:AGO) acquired Warwick Re Limited from ITE Management L.P., Blue Owl GP Stakes V, Blue Owl Capital, Investment Arm, Axonic Capital LLC and Axonic Funding (Cayman) LP for approximately $160 million on January 21, 2026.
Insurance Advisory Partners LLC served as Assured Guaranty’s exclusive financial advisor on the acquisition, and Debevoise & Plimpton LLP and Conyers Dill and Pearman Limited acted as Assured Guaranty’s legal counsel.
Assured Guaranty Ltd. (NYSE:AGO) completed the acquisition of Warwick Re Limited from ITE Management L.P., Blue Owl GP Stakes V, Blue Owl Capital, Investment Arm, Axonic Capital LLC and Axonic Funding (Cayman) LP on January 21, 2026. Annuncio • Nov 06
Assured Guaranty Ltd. announces Quarterly dividend, payable on December 03, 2025 Assured Guaranty Ltd. announced Quarterly dividend of USD 0.3400 per share payable on December 03, 2025, ex-date on November 19, 2025 and record date on November 19, 2025. Annuncio • Oct 23
Assured Guaranty Ltd. to Report Q3, 2025 Results on Nov 06, 2025 Assured Guaranty Ltd. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 06, 2025 Annuncio • Aug 06
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on September 3, 2025 Assured Guaranty Ltd. declares a quarterly dividend of $0.34 per common share. The dividend is payable on September 3, 2025 to shareholders of record at the close of business on August 20, 2025. Annuncio • Jul 24
Assured Guaranty Ltd. to Report Q2, 2025 Results on Aug 07, 2025 Assured Guaranty Ltd. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Aug 07, 2025 Annuncio • May 06
Assured Guaranty Ltd. Appoints Antonio (Tony) Ursano to its Board of Directors, Effective May 2, 2025 Assured Guaranty Ltd. announced that Antonio (Tony) Ursano, Jr. has been elected to Assured Guaranty’s Board of Directors on May 2, 2025, bringing the total number of Board members to 10. He will serve on the Environmental and Social Responsibility, Finance and Risk Oversight committees. Mr. Ursano brings extensive experience in the insurance industry and investment banking business to the Assured Guaranty Board. In 2021, Mr. Ursano founded and began serving as managing partner of Insurance Advisory Partners, LLC. Prior to founding Insurance Advisory Partners, Mr. Ursano was the Group Chief Financial Officer of Hamilton Insurance Group Ltd., where he also served on its board of directors. Previously, Mr. Ursano was President of TigerRisk Partners and CEO and Founder of TigerRisk Capital Markets & Advisory, after having served as Head of Corporate Development for Willis Group and Founder and CEO of Willis Capital Markets & Advisory. Earlier, he served for 10 years as the Global Head of the Financial Institutions Group at Banc of America Securities, where he then became its Vice Chairman. Annuncio • May 02
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on May 30, 2025 Assured Guaranty Ltd. declared a quarterly dividend of $0.34 per common share. The dividend is payable on May 30, 2025 to shareholders of record at the close of business on May 16, 2025. Annuncio • Apr 24
Assured Guaranty Ltd. to Report Q1, 2025 Results on May 08, 2025 Assured Guaranty Ltd. announced that they will report Q1, 2025 results at 4:00 PM, Eastern Standard Time on May 08, 2025 Annuncio • Mar 20
Assured Guaranty Ltd., Annual General Meeting, May 02, 2025 Assured Guaranty Ltd., Annual General Meeting, May 02, 2025. Location: 6 bevis marks, ec3a 7ba, london, United Kingdom Annuncio • Feb 19
Assured Guaranty Ltd. Declares Quarterly Dividend on Common Share, Payable on March 19, 2025 Assured Guaranty Ltd. declared a quarterly dividend of $0.34 per common share, an increase of 10% from the quarterly dividend of $0.31per common share that was declared on November 8, 2024. The dividend is payable on March 19, 2025 to shareholders of record at the close of business on March 5, 2025. Annuncio • Feb 13
Assured Guaranty Ltd. to Report Q4, 2024 Results on Feb 27, 2025 Assured Guaranty Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 27, 2025 Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: US$3.22 (vs US$2.65 in 3Q 2023) Third quarter 2024 results: EPS: US$3.22 (up from US$2.65 in 3Q 2023). Revenue: US$193.0m (up 1.0% from 3Q 2023). Net income: US$171.0m (up 10% from 3Q 2023). Profit margin: 89% (up from 81% in 3Q 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 12
Second quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 22nd November 2024 Payment date: 6th December 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 53% over the next 3 years. However, it would need to fall by 90% to increase the payout ratio to a potentially unsustainable range. Annuncio • Nov 08
Assured Guaranty Ltd. Declares Quarterly on Common Share, Payable on December 6, 2024 Assured Guaranty Ltd. declared a quarterly dividend of $0.31 per common share. The dividend is payable on December 6, 2024 to shareholders of record at the close of business on November 22, 2024. Annuncio • Oct 24
Assured Guaranty Ltd. to Report Q3, 2024 Results on Nov 11, 2024 Assured Guaranty Ltd. announced that they will report Q3, 2024 results After-Market on Nov 11, 2024 Recent Insider Transactions • Sep 09
Deputy Chairman recently sold €2.2m worth of stock On the 4th of September, Dominic Frederico sold around 31k shares on-market at roughly €72.20 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €2.9m. Dominic has been a net seller over the last 12 months, reducing personal holdings by €15m. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: US$1.43 (vs US$2.10 in 2Q 2023) Second quarter 2024 results: EPS: US$1.43 (down from US$2.10 in 2Q 2023). Revenue: US$191.0m (down 45% from 2Q 2023). Net income: US$78.0m (down 37% from 2Q 2023). Profit margin: 41% (up from 36% in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 5.3% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 28% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€5.4m sold). Annuncio • Jul 24
Assured Guaranty Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Assured Guaranty Ltd. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2024 Recent Insider Transactions • Jun 23
Deputy Chairman recently sold €2.9m worth of stock On the 20th of June, Dominic Frederico sold around 40k shares on-market at roughly €72.90 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Dominic has been a net seller over the last 12 months, reducing personal holdings by €12m. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Mark Batten was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 12
Chief Operating Officer recently sold €2.2m worth of stock On the 9th of May, Robert Bailenson sold around 30k shares on-market at roughly €74.19 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €4.7m. Robert has been a net seller over the last 12 months, reducing personal holdings by €3.8m. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: US$1.94 (vs US$1.37 in 1Q 2023) First quarter 2024 results: EPS: US$1.94 (up from US$1.37 in 1Q 2023). Revenue: US$235.0m (up 27% from 1Q 2023). Net income: US$109.0m (up 35% from 1Q 2023). Profit margin: 46% (up from 44% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 05
Fourth quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 14th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 44% over the next 3 years. However, it would need to fall by 90% to increase the payout ratio to a potentially unsustainable range. Annuncio • May 03
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on May 29, 2024 Assured Guaranty Ltd. declared a quarterly dividend of $0.31 per common share. The dividend is payable on May 29, 2024 to shareholders of record at the close of business on May 15, 2024. Annuncio • Apr 24
Assured Guaranty Ltd. to Report Q1, 2024 Results on May 07, 2024 Assured Guaranty Ltd. announced that they will report Q1, 2024 results After-Market on May 07, 2024 Annuncio • Mar 27
Assured Guaranty Announces Executive Changes Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty Corp. (AGC) reported that Marc Livolsi, Managing Director, will assume leadership of Assured Guaranty's U.S. Public Finance New Issue Marketing and Business Development, and Evan Boulukos, Managing Director, will lead Assured Guaranty's Secondary Markets desk. Additionally, Paige Litten has joined Assured Guaranty as a Director, reporting to Livolsi. Both Livolsi and Boulukos will report to Chris Chafizadeh, Senior Managing Director, Co-Head of Public Finance. In his new role, Livolsi will focus primarily on maintaining and expanding relationships with public finance professionals on sales and trading desks and executing new business originations across all public finance sectors, in addition to supporting Assured Guarantys investor outreach. Livolsi joined Assured Guaranty in July of 2023 after spending 25 years with Citibank, N.A., most recently as Managing Director, Municipal Markets Underwriting. Boulukos will manage Assured Guaranty's Secondary Markets desk, where he will be overseeing operations and building strategies to help drive increased secondary market penetration across all client segments. With over 23 years of experience in the municipal industry as a trader and portfolio manager, he joined the U.S. Public Finance team last year from Assured Guaranty's asset management business, adding his capital markets acumen to its team of public finance professionals. Litten will be responsible for originating new business along with deal execution and demonstrating Assured Guaranty's trading value across all public finance sectors, with a related focus on client and investor outreach. She joins Assured Guaranty from Citibank, N.A., where she worked since 2015, with the last eight years as Director, Municipal Underwriting. Recent Insider Transactions • Mar 22
Deputy Chairman recently sold €4.7m worth of stock On the 20th of March, Dominic Frederico sold around 55k shares on-market at roughly €85.14 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Dominic has been a net seller over the last 12 months, reducing personal holdings by €9.5m. Annuncio • Mar 21
Assured Guaranty Ltd., Annual General Meeting, May 02, 2024 Assured Guaranty Ltd., Annual General Meeting, May 02, 2024, at 08:30 Coordinated Universal Time. Location: 6 Bevis Marks, London United Kingdom Agenda: To Elect the company's board of directors; to Approve, on an advisory basis, the compensation paid to AGL's named executive officers; to Approve the Assured Guaranty Ltd. 2024 Long-Term Incentive Plan; to Appoint PricewaterhouseCoopers LLP as AGL's independent auditor for the fiscal year ending December 31, 2024, and authorize the Board of Directors, acting through its Audit Committee, to set the fees for the independent auditor; to Direct AGL to vote for directors of, and the appointment of the independent auditor for, its subsidiary Assured Guaranty Re Ltd.; and to transact such other business, if any, as lawfully may be brought before the meeting. Annuncio • Mar 05
Assured Guaranty Ltd. Hires Melissa Gribble to Lead Business Development in Australia Assured Guaranty Ltd. has hired Melissa Gribble to expand its reach within the Australian market. An Australian with decades of experience in global financial markets, Ms. Gribble is based in Sydney. She reports to U.K.-based Managing Director and Joint Head of Origination Suparna Dar. Ms. Gribble will have responsibility for Assured Guaranty’s origination activities in the Australian market, where the company’s financial guarantees have helped provide financing for the Port of Brisbane, Sydney Airport and other projects over the years. Ms. Gribble will focus on sourcing new opportunities for Assured Guaranty’s financial guarantee business in the infrastructure, utilities and structured finance markets. Ms. Gribble has extensive experience in debt and financial markets, capital raising and institutional banking, as well as in the strategic responsibilities of a chief executive tasked with building an operation from the ground up. Her broad experience includes managing origination teams in Australia, the United States, the United Kingdom and Hong Kong. Having served for seven years as Global Head of Financial and High-Grade Origination, Capital Markets, for National Australia Bank (NAB), she became Chief Executive Officer of a new financial services firm in 2021. Her NAB career spanned more than two decades and included such roles as Head of Bank Coverage-Australia and Head of Debt Capital Markets-North America. She holds a bachelor’s degree in Economics from the Australian National University, and a master’s degree in Applied Finance from Macquarie University. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: US$12.79 (vs US$1.96 in FY 2022) Full year 2023 results: EPS: US$12.79 (up from US$1.96 in FY 2022). Revenue: US$1.23b (up 51% from FY 2022). Net income: US$739.0m (up US$616.0m from FY 2022). Profit margin: 60% (up from 15% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Insurance industry in Germany are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 27
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 05 March 2024. Payment date: 20 March 2024. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (3.7%). Declared Dividend • Feb 25
Third quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 5th March 2024 Payment date: 20th March 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (14% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 19% over the next 2 years. However, it would need to fall by 84% to increase the payout ratio to a potentially unsustainable range. Annuncio • Feb 21
Assured Guaranty Ltd. Declares A Quarterly Dividend on Common Share, Payable on March 20, 2024 Assured Guaranty Ltd. declared a quarterly dividend of $0.31 per common share, an increase of 11% from the quarterly dividend of $0.28 per common share that was declared on November 1, 2023. The dividend is payable on March 20, 2024 to shareholders of record at the close of business on March 6, 2024. Annuncio • Feb 20
Assured Guaranty Ltd Appoints Mark C. Batten as Non-Executive Director and Member of Audit, Risk Oversight and Finance Committees Assured Guaranty Ltd. announced that Mark C. Batten has been appointed as a non-executive director to Assured Guaranty’s Board of Directors (Board). Mr. Batten will serve on the Board’s Audit, Risk Oversight and Finance Committees. The appointment is effective as of February 19, 2024, and brings the total number of Board members to 12. Mr. Batten will also continue to serve as the non-executive Chair of the board of directors of Assured Guaranty (UK) Limited (AGUK), Assured Guaranty’s U.K. insurance subsidiary. For more than 25 years, Mr. Batten was a partner at PricewaterhouseCoopers LLP (PwC), retiring in 2017. He led a number of practices during his time at PwC, including Real Estate Restructuring, Insurance Restructuring and a Corporate Valuations practice. He acted for the UK and Irish Governments in relation to the restructuring of the banks following the Global Financial Crisis, as the Provisional Liquidator of Independent Insurance, and as a non-executive Director of PwC’s Bermuda based global insurance captive. In addition to his board responsibilities at Assured Guaranty and AGUK, Mr. Batten is a non-executive director of other financial services and real estate companies, including Picton Property Income Ltd, which is listed on the London Stock Exchange, and Weatherby’s Bank Ltd, a UK domiciled Private Bank. He also serves as Chair of the Governing Body of Westminster School. Annuncio • Feb 14
Assured Guaranty Ltd. to Report Q4, 2023 Results on Feb 27, 2024 Assured Guaranty Ltd. announced that they will report Q4, 2023 results at 4:00 PM, Eastern Standard Time on Feb 27, 2024 Annuncio • Feb 08
Assured Guaranty Ltd. Appoints Nicholas Proud as Global Head of Origination Assured Guaranty Ltd. announced that Nicholas Proud has been appointed Global Head of Origination for its financial guaranty business. Mr. Proud is reporting to Chief Operating Officer Robert Bailenson. Mr. Proud led the successful rebuilding of Assured Guaranty’s UK and European infrastructure finance franchise in the wake of the global financial crisis and played a central role in the combination of AGUK’s operations with those of its three subsidiaries, and the establishment of Assured Guaranty’s French subsidiary, Assured Guaranty (Europe) SA (AGE). In 2019, Mr. Proud was named Senior Managing Director, International Infrastructure and Global Structured Finance. He has been CEO of AGUK and Senior Managing Director, International since 2010. He joined Assured Guaranty in 2001. New Risk • Jan 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 119% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (€3.0m sold). Recent Insider Transactions • Dec 08
Deputy Chairman recently sold €1.9m worth of stock On the 6th of December, Dominic Frederico sold around 30k shares on-market at roughly €63.46 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €2.9m. Dominic has been a net seller over the last 12 months, reducing personal holdings by €4.8m. Annuncio • Nov 09
Assured Guaranty Ltd. Announces CFO Changes, Effective on January 1, 2024 Assured Guaranty Ltd. announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will be appointed Chief Operating Officer, and Chief Actuary Benjamin G. Rosenblum will succeed him as Chief Financial Officer. As CFO, Mr. Rosenblum will assume responsibility for the operations of critical financial functions. As Chief Actuary, he has already been leading the Accounting, Financial Reporting, Sarbanes-Oxley controls, Portfolio Analytics and Quantitative Analytics departments and will continue to do so as CFO. In addition, he will oversee Treasury, Tax, and Investment Management. Mr. Bailenson has been with Assured Guaranty and its predecessor companies since 1990. He has been Chief Financial Officer of Assured Guaranty Ltd. since June 2011 and held a number of previous leadership positions with Assured Guaranty and its predecessor companies. He has been instrumental in some of the company’s most significant strategic initiatives, including the IPO of Assured Guaranty Ltd. and the acquisition of Financial Security Assurance Inc. (now Assured Guaranty Municipal Corp., or AGM), as well as acquisitions of other legacy financial guarantors. As CFO, he began the execution of capital management program in 2013, which has resulted in the repurchase of more than $4.8 billion of AGO common shares since then, led the execution of various Assured Guaranty debt offerings and refinancings, and he has been a leader in efforts to grow the Company’s asset management earnings. He also spearheaded myriad improvements to the Company’s accounting, disclosure, and treasury operations. Prior to joining the Company, he worked at Ernst & Young LLP. Mr. Rosenblum joined Assured Guaranty in 2004 and has been its Chief Actuary since 2010. In 2015, he also became Senior Managing Director in charge of Insurance Accounting and Financial Reporting. Prior to joining Assured Guaranty, he worked for nearly ten years as an actuary with his primary focus on loss reserving and developing actuarial systems and financial projections in the insurance industry. He has been an invaluable contributor to the Company’s risk analysis, loss projection and reserve calculations as it faced numerous business challenges over the years, including the global financial crisis of 2008, the integration of AGM in 2009, and the defaults of Detroit and Puerto Rico, for example. Most recently, he was instrumental in completing the transaction that resulted in the combination of Assured Investment Management with Sound Point Capital Management. Annuncio • Nov 08
Assured Guaranty Ltd. Appoints Robert A. Bailenson as Chief Operating Officer, Effective on January 1, 2024 Assured Guaranty Ltd. announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will be appointed as Chief Operating Officer. As COO, Mr. Bailenson will be responsible for various strategic initiatives as Assured Guaranty seeks to grow its business and increase its returns through increased earnings from insurance and asset management, higher investment returns, and capital efficiencies. Specifically, he will assume responsibility over the company’s financial guaranty underwriting businesses and origination strategies worldwide, as well as other initiatives for revenue generation. He will also be in charge of Investor Relations and Corporate Communications, Information Technology, and the AG Analytics subsidiary. He will continue to work closely with President and CEO Dominic Frederico in setting the strategic direction of the Company and in the execution of corporate priorities. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: US$2.67 (vs US$0.18 in 3Q 2022) Third quarter 2023 results: EPS: US$2.67 (up from US$0.18 in 3Q 2022). Revenue: US$446.0m (up 295% from 3Q 2022). Net income: US$157.0m (up US$146.0m from 3Q 2022). Profit margin: 35% (up from 9.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Insurance industry in Germany are expected to grow by 3.7%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 07
Upcoming dividend of US$0.28 per share at 1.7% yield Eligible shareholders must have bought the stock before 14 November 2023. Payment date: 29 November 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.1%). Annuncio • Nov 02
Assured Guaranty Ltd. Declares A Quarterly Dividend on Common Share, Payable on November 29, 2023 Assured Guaranty Ltd. declared a quarterly dividend of $0.28 per common share. The dividend is payable on November 29, 2023 to shareholders of record at the close of business on November 15, 2023. Annuncio • Oct 24
Assured Guaranty Ltd. to Report Q3, 2023 Results on Nov 07, 2023 Assured Guaranty Ltd. announced that they will report Q3, 2023 results on Nov 07, 2023 Recent Insider Transactions • Sep 17
Deputy Chairman recently sold €2.9m worth of stock On the 14th of September, Dominic Frederico sold around 50k shares on-market at roughly €57.39 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Dominic's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 25
Chief Financial Officer recently sold €1.1m worth of stock On the 23rd of August, Robert Bailenson sold around 20k shares on-market at roughly €52.78 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. New Risk • Aug 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: US$2.11 (vs US$0.74 loss in 2Q 2022) Second quarter 2023 results: EPS: US$2.11 (up from US$0.74 loss in 2Q 2022). Revenue: US$326.0m (up 106% from 2Q 2022). Net income: US$125.0m (up US$172.0m from 2Q 2022). Profit margin: 38% (up from net loss in 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 08
Upcoming dividend of US$0.28 per share at 1.8% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 30 August 2023. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). Annuncio • Jul 25
Assured Guaranty Ltd. to Report Q2, 2023 Results on Aug 08, 2023 Assured Guaranty Ltd. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 08, 2023 Annuncio • Jul 12
Assured Guaranty Ltd. Announces Management Changes Assured Guaranty Ltd. and David A. Buzen, the Company’s Chief Investment Officer, mutually and amicably agreed on July 6, 2023, that Mr. Buzen will separate from the Company, effective March 1, 2024. Effective August 1, 2023, Mr. Buzen will become the Company’s Senior Managing Director, Alternative Investments, focusing on special projects for the Company, and resign as the Company’s Chief Investment Officer and Head of Asset Management and as an executive officer of the Company. As Senior Managing Director, Alternative Investments, Mr. Buzen remains an officer of the Company. On July 7, 2023, the Company entered into a separation agreement with Mr. Buzen to document his right to compensation during the transition period and after separation, and his obligations to comply with certain restrictive covenants. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: US$1.37 (vs US$0.99 in 1Q 2022) First quarter 2023 results: EPS: US$1.37 (up from US$0.99 in 1Q 2022). Revenue: US$205.0m (down 35% from 1Q 2022). Net income: US$81.0m (up 23% from 1Q 2022). Profit margin: 40% (up from 21% in 1Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Upcoming Dividend • May 09
Upcoming dividend of US$0.28 per share at 2.1% yield Eligible shareholders must have bought the stock before 16 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.4%). Annuncio • May 04
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on May 31, 2023 Assured Guaranty Ltd. declared a quarterly dividend of $0.28 per common share. The dividend is payable on May 31, 2023 to shareholders of record at the close of business on May 17, 2023. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €44.80, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Insurance industry in Germany. Total returns to shareholders of 106% over the past three years. Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: US$1.96 (vs US$5.29 in FY 2021) Full year 2022 results: EPS: US$1.96 (down from US$5.29 in FY 2021). Revenue: US$818.0m (up 9.9% from FY 2021). Net income: US$123.0m (down 68% from FY 2021). Profit margin: 15% (down from 52% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 28
Upcoming dividend of US$0.28 per share at 1.6% yield Eligible shareholders must have bought the stock before 07 March 2023. Payment date: 22 March 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.4%). Annuncio • Feb 15
Assured Guaranty Ltd. to Report Q4, 2022 Results on Feb 28, 2023 Assured Guaranty Ltd. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 28, 2023 Recent Insider Transactions • Dec 10
Chief Risk Officer recently sold €2.2m worth of stock On the 1st of December, Howard Albert sold around 35k shares on-market at roughly €63.14 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €14m more than they bought in the last 12 months. Annuncio • Dec 10
MBIA Reportedly Takeover Talks with Rivals MBIA Inc. (NYSE:MBI) rose 10% on speculation that the company has been approached by its rivals for a takeover. Assured Guaranty Ltd. (NYSE:AGO) and Ambac Financial Group, Inc. (NYSE:AMBC) made bids for MBIA and the talks are said to be in advanced stage, according to a Street Insider item. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: US$0.18 (vs US$0.23 in 3Q 2021) Third quarter 2022 results: EPS: US$0.18 (down from US$0.23 in 3Q 2021). Revenue: US$113.0m (down 49% from 3Q 2021). Net income: US$11.0m (down 35% from 3Q 2021). Profit margin: 9.7% (up from 7.6% in 3Q 2021). Revenue is expected to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Insurance industry in Germany are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Nov 08
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 15 November 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.8%). Annuncio • Nov 03
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on November 30, 2022 Assured Guaranty Ltd. declared a quarterly dividend of $0.25 per common share. The dividend is payable on November 30, 2022 to shareholders of record at the close of business on November 16, 2022. Annuncio • Oct 26
Assured Guaranty Ltd. to Report Q3, 2022 Results on Nov 07, 2022 Assured Guaranty Ltd. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 07, 2022 Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 15% share price gain to €57.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 9x in the Insurance industry in Germany. Total returns to shareholders of 53% over the past three years. Recent Insider Transactions • Aug 11
Insider recently bought €288k worth of stock On the 5th of August, David Buzen bought around 6k shares on-market at roughly €49.72 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €12m more in shares than they bought in the last 12 months. Upcoming Dividend • Aug 09
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 16 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (5.2%). Reported Earnings • Aug 04
Second quarter 2022 earnings released: US$0.74 loss per share (vs US$1.30 profit in 2Q 2021) Second quarter 2022 results: US$0.74 loss per share (down from US$1.30 profit in 2Q 2021). Revenue: US$158.0m (down 7.1% from 2Q 2021). Net loss: US$47.0m (down 148% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 6.2% compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Annuncio • Aug 04
Assured Guaranty Ltd. Declares A Quarterly Dividend, Payable on August 31, 2022 Assured Guaranty Ltd. declared a quarterly dividend of $0.25 per common share. The dividend is payable on August 31, 2022 to shareholders of record at the close ofbusiness on August 17, 2022. Annuncio • Jul 21
Assured Guaranty Ltd. to Report Q2, 2022 Results on Aug 03, 2022 Assured Guaranty Ltd. announced that they will report Q2, 2022 results on Aug 03, 2022 Recent Insider Transactions • Jul 01
Deputy Chairman recently sold €4.6m worth of stock On the 27th of June, Dominic Frederico sold around 86k shares on-market at roughly €53.92 per share. This was the largest sale by an insider in the last 3 months. This was Dominic's only on-market trade for the last 12 months. Upcoming Dividend • May 10
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 17 May 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (5.1%). Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.98 (vs US$0.14 in 1Q 2021) First quarter 2022 results: EPS: US$0.98 (up from US$0.14 in 1Q 2021). Revenue: US$316.0m (up 96% from 1Q 2021). Net income: US$66.0m (up US$55.0m from 1Q 2021). Profit margin: 21% (up from 6.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 8.6% compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Annuncio • May 05
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on June 1, 2022 Assured Guaranty Ltd. declared a quarterly dividend of $0.25 per common share. The dividend is payable on June 1, 2022 to shareholders of record at the close of business on May 18, 2022. Annuncio • Apr 22
Assured Guaranty Ltd. to Report Q1, 2022 Results on May 05, 2022 Assured Guaranty Ltd. announced that they will report Q1, 2022 results at 4:00 PM, US Eastern Standard Time on May 05, 2022 Recent Insider Transactions • Apr 05
Independent Director recently sold €213k worth of stock On the 31st of March, George Buhl sold around 4k shares on-market at roughly €58.48 per share. In the last 3 months, there was an even bigger sale from another insider worth €3.2m. Insiders have been net sellers, collectively disposing of €11m more than they bought in the last 12 months. Recent Insider Transactions • Mar 03
Chief Risk Officer recently sold €3.2m worth of stock On the 1st of March, Howard Albert sold around 60k shares on-market at roughly €53.38 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €15m more than they bought in the last 12 months. Upcoming Dividend • Mar 01
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 08 March 2022. Payment date: 23 March 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (4.2%). Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$5.46 (up from US$4.22 in FY 2020). Revenue: US$744.0m (down 28% from FY 2020). Net income: US$389.0m (up 7.8% from FY 2020). Profit margin: 52% (up from 35% in FY 2020). Revenue missed analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 7.8%, compared to a 17% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Annuncio • Feb 24
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on March 23, 2022 Assured Guaranty Ltd. declared a quarterly dividend of $0.25 per common share, an increase of 13.6% from the quarterly dividend of $0.22 per common share that was declared on November 1, 2021. The dividend is payable on March 23, 2022 to shareholders of record at the close of business on March 9, 2022. Annuncio • Feb 11
Assured Guaranty Ltd. to Report Q4, 2021 Results on Feb 24, 2022 Assured Guaranty Ltd. announced that they will report Q4, 2021 results After-Market on Feb 24, 2022 Recent Insider Transactions • Nov 11
Independent Director recently sold €937k worth of stock On the 9th of November, George Buhl sold around 20k shares on-market at roughly €46.83 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €13m more than they bought in the last 12 months. Upcoming Dividend • Nov 09
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 16 November 2021. Payment date: 01 December 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.1%). Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.22 (vs US$1.03 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$223.0m (up 6.2% from 3Q 2020). Net income: US$17.0m (down 80% from 3Q 2020). Profit margin: 7.6% (down from 41% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 10
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 01 September 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS US$1.31 (vs US$2.10 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2021 results: Revenue: US$170.0m (down 52% from 2Q 2020). Net income: US$98.0m (down 46% from 2Q 2020). Profit margin: 58% (up from 52% in 2Q 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Recent Insider Transactions • May 19
Chief Risk Officer recently sold €1.9m worth of stock On the 13th of May, Howard Albert sold around 50k shares on-market at roughly €38.23 per share. In the last 3 months, there was an even bigger sale from another insider worth €4.4m. Insiders have been net sellers, collectively disposing of €11m more than they bought in the last 12 months. Upcoming Dividend • May 11
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 18 May 2021. Payment date: 02 June 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.1%). Reported Earnings • May 09
First quarter 2021 earnings released: EPS US$0.14 (vs US$0.59 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: US$161.0m (down 1.2% from 1Q 2020). Net income: US$11.0m (up US$66.0m from 1Q 2020). Profit margin: 6.8% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Annuncio • May 06
Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on June 2, 2021 Assured Guaranty Ltd. declared a quarterly dividend of $0.22 per common share. The dividend is payable on June 2, 2021 to shareholders of record at the close of business on May 19, 2021. 
