ASSURED GUARANTY LTD (AGO): Results of Operations and Financial Condition
ASSURED GUARANTY LTD (AGO) filed an SEC Form 8-K — Results of Operations and Financial Condition. Assured Guaranty Ltd. Reports Results for Second Quarter 2026 • GAAP Highlights: • Net income attributable to Assured Guaranty Ltd. was $39 million, or $0.88 per share, (1) for second quarter 2026. • Shareholders’ equity attributable to Assured Guaranty Ltd. per share was $126.18
How this was made
The 30-second read
Why it matters
The attachment likely contains updated GAAP and non-GAAP operating results, balance sheet items, segment performance (financial guaranty, annuity reinsurance, asset management), and risk/exposure metrics. However, the provided excerpt does not include the figures needed to assess whether the update is a beat, miss, or balance-sheet stress.
Market read
This is a primary filing that can move the stock if the supplement’s disclosed metrics differ materially from expectations, but the excerpt provides no numeric results.
What to watch
Traders should focus on any changes in net expected loss, claims-paying resources, new business production, and investment portfolio income, which are listed as sections in the supplement but not shown in the scraped body.
Assured Guaranty reported $39 million of GAAP net income attributable to AGL and $55 million of adjusted operating income for the three months ended June 30, 2026, while financial guaranty PVP was $79 million.
Quarterly GAAP net income attributable to AGL was $39 million versus $103 million in the prior-year period, while adjusted operating income was $55 million versus $50 million. Financial guaranty PVP was $79 million versus $64 million, but gross written premiums and gross par written were below the prior-year period.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net income (loss) attributable to AGLGAAP | $39 million | – | – |
| Net income (loss) attributable to AGL per diluted shareGAAP | $0.88 | – | – |
| Weighted average basic shares outstandingGAAP | 44.3 million | – | – |
| Weighted average diluted shares outstandingGAAP | 44.6 million | – | – |
| Effective tax rate on net incomeGAAP | 18.0% | – | – |
| GAAP return on equity (ROE)GAAP | 2.8% | – | – |
| Adjusted operating income (loss)non-GAAP | $55 million | – | – |
| Adjusted operating income (loss) per diluted sharenon-GAAP | $1.23 | – | – |
| Weighted average diluted shares outstandingnon-GAAP | 44.6 million | – | – |
| Effective tax rate on adjusted operating incomenon-GAAP | 19.1% | – | – |
| Adjusted operating ROEnon-GAAP | 3.8% | – | – |
| Financial Guaranty segment adjusted operating income (loss)non-GAAP | $85 million | – | – |
| Annuity Reinsurance segment adjusted operating income (loss)non-GAAP | $2 million | – | – |
| Asset Management segment adjusted operating income (loss)non-GAAP | $4 million | – | – |
| Corporate division adjusted operating income (loss)non-GAAP | $(28) million | – | – |
| Other adjusted operating income (loss)non-GAAP | $(5) million | – | – |
| Financial Guaranty segment gross written premiums (GWP)other | $81 million | – | – |
| Financial Guaranty segment present value of new business production (PVP)non-GAAP | $79 million | – | – |
| Financial Guaranty segment gross par writtenother | $8,351 million | – | – |
| Net earned premiums, pre-tax effect of refundings, terminations and modificationsGAAP | $11 million | – | – |
| Fair value gains (losses) of credit derivatives, pre-tax effect of refundings, terminations and modificationsGAAP | — | – | – |
| Net income effect (loss) of refundings, terminations and modificationsGAAP | $8 million | – | – |
| Net income per diluted share (loss) effect of refundings, terminations and modificationsGAAP | $0.19 | – | – |
| Operating net earned premiums and credit derivative revenues, pre-tax effect of refundings, terminations and modificationsnon-GAAP | $11 million | – | – |
| Adjusted operating income (loss) effect of refundings, terminations and modificationsnon-GAAP | $8 million | – | – |
| Adjusted operating income (loss) per diluted share effect of refundings, terminations and modificationsnon-GAAP | $0.19 | – | – |
| Six months ended June 30, 2026 net income (loss) attributable to AGLGAAP | $127 million | – | – |
| Six months ended June 30, 2026 adjusted operating income (loss)non-GAAP | $170 million | – | – |
| Six months ended June 30, 2026 Financial Guaranty segment gross written premiums (GWP)other | $151 million | – | – |
| Six months ended June 30, 2026 Financial Guaranty segment present value of new business production (PVP)non-GAAP | $152 million | – | – |
| Six months ended June 30, 2026 Financial Guaranty segment gross par writtenother | $15,862 million | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Financial GuarantyGross written premiums were $81 million, PVP was $79 million, and gross par written was $8,351 million. | $85 million adjusted operating income (loss) | – | – |
| Annuity ReinsuranceThe financial supplement reported $2 million of adjusted operating income (loss). | $2 million adjusted operating income (loss) | – | – |
| Asset ManagementThe financial supplement reported $4 million of adjusted operating income (loss). | $4 million adjusted operating income (loss) | – | – |
| Corporate divisionThe financial supplement reported $(28) million of adjusted operating income (loss). | $(28) million adjusted operating income (loss) | – | – |
| OtherRepresents the effect of consolidating financial guaranty variable interest entities and consolidated investment vehicles. | $(5) million adjusted operating income (loss) | – | – |
Capital returns
- Common share repurchases: $45 million
- Dividends: $17 million
- Total capital returned to common shareholders: $62 million
- Six months ended June 30, 2026 common share repurchases: $120 million
- Six months ended June 30, 2026 dividends: $35 million
- Six months ended June 30, 2026 total capital returned to common shareholders: $155 million
What drove it
- Financial Guaranty segment PVP was $79 million, compared with $64 million in the prior-year period.
- Financial Guaranty segment adjusted operating income (loss) was $85 million, compared with $76 million in the prior-year period.
- The effect of refundings, terminations and modifications on GAAP net earned premiums, pre-tax was $11 million, compared with $4 million in the prior-year period.
- The effect of refundings, terminations and modifications on adjusted operating income (loss) was $8 million, compared with $3 million in the prior-year period.
Concerns
- GAAP net income attributable to AGL was $39 million, compared with $103 million in the prior-year period.
- GAAP diluted earnings per share was $0.88, compared with $2.08 in the prior-year period.
- Financial Guaranty gross written premiums were $81 million, compared with $85 million in the prior-year period.
- Financial Guaranty gross par written was $8,351 million, compared with $10,396 million in the prior-year period.
- Six-month GAAP net income attributable to AGL was $127 million, compared with $279 million in the prior-year period.
- Six-month adjusted operating income was $170 million, compared with $212 million in the prior-year period.
What to watch
- Financial Guaranty gross written premiums, PVP and gross par written.
- The contribution from the Annuity Reinsurance segment, which reported $2 million of adjusted operating income (loss).
- The level of common share repurchases and dividends.
- The effect of refundings, terminations and modifications on net earned premiums and adjusted operating income.
Analysis
Assured Guaranty reported $39 million of GAAP net income attributable to AGL, or $0.88 per diluted share, for the three months ended June 30, 2026. This compared with $103 million, or $2.08 per diluted share, in the prior-year period. GAAP ROE was 2.8%, compared with 7.4%, while the effective tax rate on net income was 18.0%, compared with 20.9%.
Adjusted operating income was $55 million, or $1.23 per diluted share, compared with $50 million, or $1.01 per diluted share. Adjusted operating ROE was 3.8%, compared with 3.5%. The Financial Guaranty segment contributed $85 million of adjusted operating income, compared with $76 million, offset by $(28) million in the Corporate division and $(5) million in Other.
Financial Guaranty production was mixed across the disclosed measures. PVP was $79 million compared with $64 million in the prior-year period, while gross written premiums were $81 million compared with $85 million and gross par written was $8,351 million compared with $10,396 million. The Annuity Reinsurance segment reported $2 million of adjusted operating income, and the Asset Management segment reported $4 million.
Refundings, terminations and modifications contributed $11 million to GAAP net earned premiums, pre-tax, and an $8 million net income effect. The equivalent non-GAAP effect included $11 million of operating net earned premiums and credit derivative revenues, pre-tax, and an $8 million adjusted operating income effect. These items were higher than the respective $4 million and $3 million prior-year-period effects.
Capital returned to common shareholders was $62 million in the quarter, consisting of $45 million of common share repurchases and $17 million of dividends. For the six months ended June 30, 2026, GAAP net income attributable to AGL was $127 million compared with $279 million, while adjusted operating income was $170 million compared with $212 million. No forward guidance was included in the provided filing text.
Not in the filing
stated, not guessed- Total revenue
- Segment revenue
- Gross margin
- Operating income
- Operating expenses
- Total revenue growth rates
- Segment revenue growth rates
- Prior-quarter comparisons
- Operating cash flow
- Free cash flow
- Cash balance
- Debt balance
- Detailed balance-sheet figures
- Forward guidance
- Management earnings commentary
- Named executive quotes
- Complete financial supplement tables following the truncated excerpt
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The filing is an SEC Form 8-K, Item 2.02, attaching a financial supplement for Assured Guaranty’s results and financial condition as of June 30, 2026.
Ticker impact
Assured Guaranty filed an 8-K with a financial supplement for results of operations and financial condition as of June 30, 2026.
Near-term price impact is uncertain from the provided excerpt; traders will need the supplement’s specific earnings, loss, and capital/portfolio figures to gauge direction.
The article confirms the filing and document structure, but the excerpt contains no disclosed financial results, guidance, or material changes beyond boilerplate risk language.
Market effects
Updates for a financial guarantor can affect read-through on credit risk, loss expectations, and capital adequacy, but no sector conclusions are provided in the excerpt.
No regional-specific impact is stated in the provided text.
No global macro or cross-border transaction details are included in the excerpt.
Counterpoint
Because the excerpt omits the actual financial highlights, the market reaction may be driven by specific disclosed metrics (losses, net exposure, capital) that are not visible here.
Key entities
- public_companyAssured Guaranty Ltd.
Subject of the SEC 8-K filing and attached financial supplement for June 30, 2026.
- regulatory_filingSEC Form 8-K
Primary disclosure vehicle for Item 2.02 results of operations and financial condition.
