Assured Guaranty Ltd. announced strong financial results for the first quarter ended March 31, 2025, on May 7, 2025. Net income attributable to AGL increased 61% year-over-year to $176 million, or $3.44 per diluted share. Adjusted operating income also saw a significant rise of 43% to $162 million, or $3.18 per diluted share.
The company achieved record levels in key per-share valuation metrics as of March 31, 2025. Shareholders’ equity per share reached $112.80, adjusted operating shareholders' equity per share was $117.40, and adjusted book value per share stood at $172.79. These record figures reflect the company's robust financial performance and effective capital management.
A significant pre-tax gain of $103 million was recognized during the quarter, resulting from the successful conclusion of the long-standing LBIE litigation. This resolution contributed positively to the company's net income and overall financial strength. Capital returned to shareholders totaled $138 million, including $120 million in share repurchases and $18 million in dividends.
In the U.S. public finance market, Assured Guaranty continued its leadership, with its primary par written representing 64% of the total insured par sold, an increase from 53% in Q1 2024. The company also saw a substantial increase in U.S. public finance secondary market par written, which accounted for almost 10% of its total U.S. public finance par written, up from 1% in the prior year. The Insurance segment's adjusted operating income increased to $168 million, primarily due to the LBIE gain, despite higher loss expense on public finance exposures like PREPA and certain U.K. regulated utilities.
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