ASSURED GUARANTY LTD
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 2026
AGO$73.45+2.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| ASSURED GUARANTY LTD. | ||
|---|---|---|
| INDEX TO FORM 10-Q | ||
| Page | ||
| PART I | Financial Information | 1 |
| Item 1. | Financial Statements: | 1 |
| Condensed Consolidated Balance Sheets (Unaudited) as of September 30, 2026 and December 31, 2025 | 1 | |
| Condensed Consolidated Statements of Operations (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025 | 2 | |
| Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025 | 3 | |
| Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025 | 4 | |
| Condensed Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2026 and 2025 | 6 | |
| Notes to Condensed Consolidated Financial Statements (Unaudited) | 8 | |
| 1. Business and Basis of Presentation | 8 | |
| 2. Assured Life Re Acquisition | 10 | |
| 3. Segment Information | 11 | |
| 4. Outstanding Exposure | 18 | |
| 5. Expected Loss to be Paid (Recovered) | 23 | |
| 6. Contracts Accounted for as Financial Guaranty Insurance | 32 | |
| 7. Annuity Reinsurance | 38 | |
| 8. Derivatives | 41 | |
| 9. Investments | 44 | |
| 10. Variable Interest Entities | 49 | |
| 11. Fair Value Measurement | 52 | |
| 12. Income Taxes | 67 | |
| 13. Contingencies | 68 | |
| 14. Shareholders’ Equity | 69 | |
| 15. Earnings Per Share | 72 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 73 |
| Forward Looking Statements | 73 | |
| Available Information | 74 | |
| Overview | 74 | |
| Business | 74 | |
| Financial Strength Ratings | 75 | |
| Economic Environment | 75 | |
| Key Business Strategies | 77 | |
| Executive Summary | 81 | |
| Financial Performance of Assured Guaranty | 81 | |
| Other Matters | 85 | |
| Results of Operations | 86 | |
| Critical Accounting Estimates | 86 | |
| Results of Operations by Segment | 86 | |
| Financial Guaranty Segment Results | 87 | |
| Annuity Reinsurance Segment Results | 96 | |
| Asset Management Segment Results | 97 | |
| Corporate Division Results | 97 | |
| Other | 98 | |
| Reconciliation to GAAP | 100 | |
| Non-GAAP Financial Measures | 102 | |
| Insured Portfolio | 106 | |
| Liquidity and Capital Resources | 108 | |
| AGL and its Holding Companies | 108 | |
| Insurance Subsidiaries | 112 | |
| Investment Portfolio | 115 | |
| Lease Obligations | 118 | |
| Financial Guaranty Variable Interest Entities and Consolidated Investment Vehicles | 119 | |
| Condensed Consolidated Cash Flow Summary | 119 | |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 120 |
| Item 4. | Controls and Procedures | 121 |
| PART II | Other Information | 123 |
| Item 1. | Legal Proceedings | 123 |
| Item 1A. | Risk Factors | 123 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 123 |
| Item 5. | Other Information | 123 |
| Item 6. | Exhibits | 125 |
| Signatures | 126 | |
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