Assured Guaranty Ltd
assuredguaranty.comWhat Do They Do?
Provides financial-guaranty insurance and other credit protection for debt obligations in public-finance and structured-finance markets, serving issuers, underwriters and investors. Also participates in asset management and life and annuity reinsurance.
10-K for FY2025, filed Feb 27, 2026Through its financial guaranty insurance subsidiaries, the Company applies its credit underwriting judgment, risk management skills and…View ↗
The Company participates in the asset management business through its ownership interest in Sound Point Capital Management, LP (Sound…View ↗
On January 21, 2026, the Company purchased all of the outstanding share capital in Warwick Company (UK) Limited (which is the 100% indirect…View ↗
How Do They Make Money?
Issuers and investors pay premiums for financial-guaranty coverage; some premiums are paid in installments during the coverage term. Asset management earns management and performance fees for investment-advisory services to funds and CLOs.
10-K for FY2025, filed Feb 27, 2026Both issuers of, and investors in, financial instruments may benefit from financial guaranty insurance. Issuers benefit when they purchase…View ↗
According to the U.S. Bureau of Labor Statistics, the inflation rate in the U.S. before seasonal adjustment for the 12-month period ending…View ↗
All management, CLO and performance fees earned by the Company are accounted for as contracts with customers. The Company recognizes…View ↗
Prior to the Sound Point Transaction and AHP Transaction, the Company received management fees, as well as performance fees, incentive…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by reportable segment ↗
$1.1B
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10-K for FY2025, filed Feb 27, 2026
$1.1B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Insurance
|
78%
FY2022: 105%
|
Insurance, FY2025
$870M Sources
|
|
Asset Management
|
2.6%
FY2022: 15%
|
Asset Management, FY2025
$29M Sources
|
Who Are Their Customers?
Financial-guaranty coverage is marketed directly to issuers and underwriters of public-finance and structured-finance securities and to investors; the asset-management business advises investment funds and CLOs.
10-K for FY2025, filed Feb 27, 2026
Do Revenues Turn Into Profits?
Yes. It kept 45 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 27, 2026
10-K for FY2025, filed Feb 27, 2026
$503MView ↗
How Are They Changing?
Growing. Revenue grew 31% in 4 years, from $848M in FY2021 to $1.1B in FY2025, about 7% a year.
Life and annuity reinsurance
The latest report adds a life-and-annuity reinsurance platform through Assured Life Re, alongside the earlier credit-protection and asset-management businesses.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 27, 2026Assured Guaranty Ltd. (AGL and, together with its subsidiaries, Assured Guaranty or the Company) is a Bermuda-based holding company…View ↗
On January 21, 2026, the Company purchased all of the outstanding share capital in Warwick Company (UK) Limited (which is the 100% indirect…View ↗
Asset-management platform
Asset management shifted from advisory services through AssuredIM to an ownership interest in Sound Point, which manages a fund whose general partner the company continues to consolidate.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 27, 2026In the Asset Management segment, the Company provides asset management services through Assured Investment Management LLC (AssuredIM LLC)…View ↗
Who Do They Compete With?
Competes with Build America Mutual Assurance
10-K for FY2025, filed Feb 27, 2026In the U.S. public finance market, Assured Guaranty is the only financial guaranty company active before the 2008 financial crisis that has…View ↗
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