Earnings Releases·Nov 5, 2026, 4:21 PM ET

Assured Guaranty Ltd. — Third Quarter 2026 Earnings Summary

GAAP net income declined to $78 million ($1.75/share) from $105 million ($2.18/share) in the prior year period, while Non-GAAP adjusted operating income fell to $86 million ($1.94/share) from $124 million ($2.57/share).
Gross written premiums surged to $127 million from $75 million year-over-year, driven by significant growth across all three markets, with Global structured finance doubling its GWP and PVP in the first nine months of 2026.
Adjusted book value and adjusted operating shareholders' equity per share reached record highs of $192.60 and $131.99 respectively, though reported shareholders' equity per share dipped to $122.91 due to unrealized investment losses from rising interest rates.
Capital returned to shareholders totaled $27 million in the quarter ($10 million in share repurchases, $17 million in dividends), with authorization for an additional $121 million in repurchases as of November 4, 2026.
The Annuity Reinsurance segment, established via the January 2026 acquisition of Assured Life Re, contributed $1 million in adjusted operating income and $16 million in revenue, while the Financial Guaranty segment saw loss expense drop to $1 million compared to a $31 million benefit in the prior year.