ASSURED GUARANTY LTD
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
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14. Shareholders’ Equity
- Shareholders’ Equity
Other Comprehensive Income
The following tables present the changes in each component of accumulated other comprehensive income (AOCI) and the effect of reclassifications out of AOCI into the respective lines in the condensed consolidated statements of operations.
| Net Unrealized Gains (Losses) on Investments with: · ISCR on FG VIEs’ Liabilities with Recourse · Change in Discount Rates on the LFPB · CumulativeTranslationAdjustment · Cash Flow Hedge · Total AOCI | |||||||
|---|---|---|---|---|---|---|---|
| No Credit Impairment · Credit Impairment | |||||||
| (in millions) | |||||||
| Balance, March 31, 2026 | $(132) | $(116) | $(17) | $17 | $(36) | $4 | $(280) |
| Other comprehensive income (loss) before reclassifications | 2 | 27 | — | (8) | — | — | 21 |
| Less: Amounts reclassified from AOCI to: | |||||||
| Net realized investment gains (losses) | (8) | (2) | — | — | — | — | (10) |
| Gains (losses) on FG VIEs | — | — | (1) | — | — | — | (1) |
| Total before tax | (8) | (2) | (1) | — | — | — | (11) |
| Tax (provision) benefit | 2 | 1 | — | — | — | — | 3 |
| Total amount reclassified from AOCI, net of tax | (6) | (1) | (1) | — | — | — | (8) |
| Other comprehensive income (loss) | 8 | 28 | 1 | (8) | — | — | 29 |
| Balance, June 30, 2026 | $(124) | $(88) | $(16) | $9 | $(36) | $4 | $(251) |
| Net Unrealized Gains (Losses) on Investments with: · ISCR on FG VIEs’ Liabilities with Recourse · CumulativeTranslationAdjustment · Cash Flow Hedge · Total AOCI | ||||||
|---|---|---|---|---|---|---|
| No Credit Impairment · Credit Impairment | ||||||
| (in millions) | ||||||
| Balance, March 31, 2025 | $(183) | $(78) | $(19) | $(38) | $4 | $(314) |
| Other comprehensive income (loss) before reclassifications | 85 | (3) | — | 2 | — | 84 |
| Less: Amounts reclassified from AOCI to: | ||||||
| Net realized investment gains (losses) | — | (3) | — | — | — | (3) |
| Fair value gains (losses) on FG VIEs | — | — | (1) | — | — | (1) |
| Total before tax | — | (3) | (1) | — | — | (4) |
| Tax (provision) benefit | — | 1 | — | — | — | 1 |
| Total amount reclassified from AOCI, net of tax | — | (2) | (1) | — | — | (3) |
| Other comprehensive income (loss) | 85 | (1) | 1 | 2 | — | 87 |
| Balance, June 30, 2025 | $(98) | $(79) | $(18) | $(36) | $4 | $(227) |
| Net Unrealized Gains (Losses) on Investments with: · ISCR on FG VIEs’ Liabilities with Recourse · Change in Discount Rates on the LFPB · CumulativeTranslationAdjustment · Cash Flow Hedge · Total AOCI | |||||||
|---|---|---|---|---|---|---|---|
| No Credit Impairment · Credit Impairment | |||||||
| (in millions) | |||||||
| Balance, December 31, 2025 | $(48) | $(72) | $(17) | $— | $(35) | $4 | $(168) |
| Other comprehensive income (loss) before reclassifications | (81) | (30) | — | 9 | (1) | — | (103) |
| Less: Amounts reclassified from AOCI to: | |||||||
| Net realized investment gains (losses) | (7) | (18) | — | — | — | — | (25) |
| Gains (losses) on FG VIEs | — | — | (1) | — | — | — | (1) |
| Total before tax | (7) | (18) | (1) | — | — | — | (26) |
| Tax (provision) benefit | 2 | 4 | — | — | — | — | 6 |
| Total amount reclassified from AOCI, net of tax | (5) | (14) | (1) | — | — | — | (20) |
| Other comprehensive income (loss) | (76) | (16) | 1 | 9 | (1) | — | (83) |
| Balance, June 30, 2026 | $(124) | $(88) | $(16) | $9 | $(36) | $4 | $(251) |
| Net Unrealized Gains (Losses) on Investments with: · ISCR on FG VIEs’ Liabilities with Recourse · CumulativeTranslationAdjustment · Cash Flow Hedge · Total AOCI | ||||||
|---|---|---|---|---|---|---|
| No Credit Impairment · Credit Impairment | ||||||
| (in millions) | ||||||
| Balance, December 31, 2024 | $(235) | $(99) | $(18) | $(37) | $4 | $(385) |
| Other comprehensive income (loss) before reclassifications | 131 | 10 | (1) | 1 | — | 141 |
| Less: Amounts reclassified from AOCI to: | ||||||
| Net realized investment gains (losses) | (6) | (13) | — | — | — | (19) |
| Fair value gains (losses) on FG VIEs | — | — | (1) | — | — | (1) |
| Total before tax | (6) | (13) | (1) | — | — | (20) |
| Tax (provision) benefit | — | 3 | — | — | — | 3 |
| Total amount reclassified from AOCI, net of tax | (6) | (10) | (1) | — | — | (17) |
| Other comprehensive income (loss) | 137 | 20 | — | 1 | — | 158 |
| Balance, June 30, 2025 | $(98) | $(79) | $(18) | $(36) | $4 | $(227) |
Share Repurchases
The following table presents information regarding AGL’s repurchases of its common shares during the period from January 1, 2025 through August 5, 2026.
Share Repurchases
| Period | Number of Shares Repurchased | Total Payments (1)(in millions) | Average Price Paid Per Share (1) |
|---|---|---|---|
| 2025 (January 1 - March 31) | 1,335,228 | $120 | $89.72 |
| 2025 (April 1 - June 30) | 1,537,505 | 131 | 85.03 |
| 2025 (July 1 - September 30) | 1,423,121 | 118 | 83.06 |
| 2025 (October 1 - December 31) | 1,523,773 | 131 | 86.16 |
| Total 2025 | 5,819,627 | $500 | $85.92 |
| 2026 (January 1 - March 31) | 881,981 | 75 | 85.58 |
| 2026 (April 1 - June 30) | 553,564 | 45 | 80.68 |
| 2026 (July 1 - August 5) | 123,333 | 10 | 83.78 |
| Total 2026 | 1,558,878 | $130 | $83.70 |
(1) Excludes commissions.
As of August 5, 2026, AGL was authorized to repurchase an additional $121 million of its common shares. The Board of Directors may modify, suspend or terminate the repurchase program at any time, and the program does not have a stated expiration date.
As part of its overall capital management strategy, the Company evaluates on a quarterly basis planned uses of available capital, which may include growth opportunities in its financial guaranty insurance and annuity reinsurance businesses, maintaining a capital cushion to support its existing business and share repurchases.
The timing, form and amount of any future share repurchases will be determined at the Company’s discretion and will depend on various factors, including alternative uses for capital, the Company’s regulatory capital position, rating agency capital considerations, availability of cash at the parent company, market conditions and legal and regulatory requirements. Any such share repurchases may be made from time to time through open-market purchases or privately negotiated transactions, and there can be no assurance of the amount of share repurchases that will occur in the future.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.