# ASSURED GUARANTY LTD

Summary updated: 2026-10-02T11:29:43.732301Z
Canonical: https://finbar.com/research/companies/assured-guaranty-ltd

## Overview

Assured Guaranty Ltd. is a Bermuda-based financial-services holding company whose core business is financial-guaranty insurance. It guarantees scheduled principal and interest payments on public-finance and structured-finance obligations, and also provides nonpayment and specialty insurance and reinsurance, as well as credit protection through derivatives. The group has an asset-management business through its interest in Sound Point. [1](https://app.finbar.com/go?id=P64283187)[2](https://app.finbar.com/go?id=P10727667)[3](https://app.finbar.com/go?id=P100148967)[4](https://app.finbar.com/go?id=P106096822)[5](https://app.finbar.com/go?id=P56179092)

Its insurance business operates principally in the United States and United Kingdom, with activity in other markets including Western Europe and Australia; the company also lists offices or representatives in Bermuda, the U.S., U.K., France, Australia and Singapore. [2](https://app.finbar.com/go?id=P10727667)[6](https://assuredguaranty.com/contact) Its public-purpose framing emphasizes helping governments finance public works and services through its guarantees. [7](https://assuredguaranty.com/about-us/environmental-and-social-responsibility/social-responsibility) In January 2026, it acquired Assured Life Re, establishing a platform focused on life and annuity reinsurance. [8](https://app.finbar.com/go?id=P113883221)

Assured Guaranty reported approximately $1.01 billion in revenue for 2025. [9](https://www.sec.gov/Archives/edgar/data/1273813/000127381326000011/ago-20251231.htm) Its careers page cites approximately 360 employees, though the figure is undated. [10](https://assuredguaranty.com/careers)
[1](https://app.finbar.com/go?id=P64283187)[2](https://app.finbar.com/go?id=P10727667)[3](https://app.finbar.com/go?id=P100148967)[4](https://app.finbar.com/go?id=P106096822)[5](https://app.finbar.com/go?id=P56179092)[6](https://assuredguaranty.com/contact)[7](https://assuredguaranty.com/about-us/environmental-and-social-responsibility/social-responsibility)[8](https://app.finbar.com/go?id=P113883221)[9](https://www.sec.gov/Archives/edgar/data/1273813/000127381326000011/ago-20251231.htm)[10](https://assuredguaranty.com/careers)[6](https://assuredguaranty.com/contact)[7](https://assuredguaranty.com/about-us/environmental-and-social-responsibility/social-responsibility)[9](https://www.sec.gov/Archives/edgar/data/1273813/000127381326000011/ago-20251231.htm)[10](https://assuredguaranty.com/careers)

## Products & services

Assured Guaranty’s principal product is financial guaranty insurance: an unconditional, irrevocable guarantee of scheduled principal and interest payments on debt or other monetary obligations. If an insured payment is missed, the guarantee generally covers the principal or interest shortfall when due. [3](https://app.finbar.com/go?id=P100148967) Its public-finance products cover municipal and other public-sector bonds, including tax-backed and general-obligation debt, utilities, transportation, healthcare, infrastructure and higher education. Municipal surety policies can also replace cash-funded reserves. [11](https://app.finbar.com/go?id=T6911155)[12](https://assuredguaranty.com/businesses/us-public-finance)[13](https://assuredguaranty.com/guaranteed-munis/)

In structured finance, the company guarantees obligations backed by assets such as auto receivables, equipment leases, credit-card and other consumer or trade receivables, and large operating assets; a specialized offering guarantees final balloon principal on certain commercial-real-estate-secured debt at maturity. Related services include underwriting and pricing support for issuers, and collateral analysis, due diligence, surveillance and remediation for investors. [14](https://assuredguaranty.com/businesses/global-structured-finance)[15](https://assuredguaranty.com/businesses/global-structured-finance/asset-backed-finance)[16](https://assuredguaranty.com/businesses/global-structured-finance/commercial-real-estate)[17](https://assuredguaranty.com/businesses/global-structured-finance/benefits-for-investors)

Following its January 2026 acquisition of Assured Life Re, the company also offers annuity reinsurance, including U.K. bulk purchase annuities/pension risk transfers and U.S. multi-year guaranteed annuities. The latter typically guarantee an interest-crediting rate for a specified term and may have surrender charges, market-value adjustments or limited withdrawal provisions. [18](https://app.finbar.com/go?id=P154591267) Through its Sound Point ownership, Assured Guaranty also participates in asset-management offerings spanning CLOs and performing credit, private credit, structured credit, opportunistic credit and commercial real-estate credit, including funds, separately managed accounts and co-investment opportunities. [19](https://app.finbar.com/go?id=P23566529)[20](https://app.finbar.com/go?id=P5999953)

In 2025, public finance accounted for $221 million, or 86.3%, of financial-guaranty gross written premiums (GWP), while structured finance accounted for $35 million, or 13.7%; total GWP was $256 million. On a present-value-of-premiums (PVP) basis, public finance represented $243 million (85.0%) and structured finance $43 million (15.0%), of $286 million total. Percentages are calculated from reported amounts. [21](https://app.finbar.com/go?id=T7788542) For the six months ended June 30, 2026, reported third-party segment revenues were $377 million from Financial Guaranty, $25 million from Annuity Reinsurance and $94 million from Asset Management. [22](https://app.finbar.com/go?id=T17835024)
[3](https://app.finbar.com/go?id=P100148967)[11](https://app.finbar.com/go?id=T6911155)[18](https://app.finbar.com/go?id=P154591267)[19](https://app.finbar.com/go?id=P23566529)[20](https://app.finbar.com/go?id=P5999953)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[21](https://app.finbar.com/go?id=T7788542)[22](https://app.finbar.com/go?id=T17835024)[22](https://app.finbar.com/go?id=T17835024)[22](https://app.finbar.com/go?id=T17835024)[12](https://assuredguaranty.com/businesses/us-public-finance)[13](https://assuredguaranty.com/guaranteed-munis/)[14](https://assuredguaranty.com/businesses/global-structured-finance)[15](https://assuredguaranty.com/businesses/global-structured-finance/asset-backed-finance)[16](https://assuredguaranty.com/businesses/global-structured-finance/commercial-real-estate)[17](https://assuredguaranty.com/businesses/global-structured-finance/benefits-for-investors)

## Geographic presence

Assured Guaranty’s business spans the United States and non-U.S. markets. In the six months ended June 30, 2026, gross written premiums were $151 million, of which $119 million (78.8%) was U.S. and $32 million (21.2%) non-U.S.; gross par written was $15.862 billion, split $11.994 billion (75.6%) U.S. and $3.868 billion (24.4%) non-U.S. [23](https://app.finbar.com/go?id=T17835102) At June 30, 2026, net par exposure totaled $281.4 billion: $228.0 billion (81.0%) U.S. and $53.4 billion (19.0%) non-U.S. [24](https://app.finbar.com/go?id=T17835121)

The company identifies infrastructure-finance activity across the Americas, Europe, and Asia-Pacific. Its listed offices are in Hamilton, Bermuda (corporate headquarters), New York, San Francisco, London, Paris, Sydney, and Singapore; its careers page also lists Asheville, North Carolina. [25](https://assuredguaranty.com/businesses/global-infrastructure-finance) [6](https://assuredguaranty.com/contact) [10](https://assuredguaranty.com/careers) The sources provide office locations but not employee distribution by location.

Among the largest non-U.S. exposures reported for 2025 were UK water and utility-related names, including Southern Water, Thames Water, and Dŵr Cymru; Channel Link is identified with France and the United Kingdom. [26](https://app.finbar.com/go?id=T1165552)
[23](https://app.finbar.com/go?id=T17835102)[24](https://app.finbar.com/go?id=T17835121)[25](https://assuredguaranty.com/businesses/global-infrastructure-finance)[6](https://assuredguaranty.com/contact)[10](https://assuredguaranty.com/careers)[26](https://app.finbar.com/go?id=T1165552)[25](https://assuredguaranty.com/businesses/global-infrastructure-finance)[6](https://assuredguaranty.com/contact)[10](https://assuredguaranty.com/careers)

## Business segments

For the six months ended June 30, 2026, Assured Guaranty reported three segments: **Financial Guaranty**, covering financial guaranty insurance and reinsurance and certain specialty insurance and reinsurance; **Annuity Reinsurance**, covering annuity reinsurance; and **Asset Management**, reflecting its interest in Sound Point and related asset-management activities. The company added Annuity Reinsurance as a separate segment in the first quarter of 2026 and renamed its former Insurance segment Financial Guaranty. [27](https://app.finbar.com/go?id=P154591309) [28](https://app.finbar.com/go?id=P154591660)

Based on third-party segment revenues for the first half of 2026, Financial Guaranty contributed approximately **76%** ($377 million), Annuity Reinsurance **5%** ($25 million), and Asset Management **19%** ($94 million) of the $496 million combined total. These approximate shares exclude intersegment revenue. [29](https://app.finbar.com/go?id=P154591326) [30](https://app.finbar.com/go?id=P154591340) Before the 2026 reporting change, FY2025 segments were Insurance and Asset Management, with third-party segment revenues of $861 million and $24 million, respectively; those figures are not directly comparable to the 2026 structure. [31](https://app.finbar.com/go?id=P39254908) [32](https://app.finbar.com/go?id=T8504161)
[27](https://app.finbar.com/go?id=P154591309)[28](https://app.finbar.com/go?id=P154591660)[29](https://app.finbar.com/go?id=P154591326)[30](https://app.finbar.com/go?id=P154591340)[31](https://app.finbar.com/go?id=P39254908)[32](https://app.finbar.com/go?id=T8504161)

## Company history

Assured Guaranty’s roots include Financial Security Assurance, which began operating as a financial guaranty insurer in 1985, and Capital Reinsurance, which began operations in 1988. ACE Limited acquired Capital Re in 1999 and formed Assured Guaranty Ltd. as a holding company in August 2003; Dominic J. Frederico became CEO that December. [33](https://assuredguaranty.com/about-us/history)[34](https://app.finbar.com/go?id=P12101643) Assured Guaranty completed its initial public offering in April 2004. [35](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2004/Assured-Guaranty-Ltd.-Closes-Initial-Public-Offering-Will-Issue-Its-First-Quarter-Earnings-on-Tuesday-May-11-2004/default.aspx)

The company expanded through acquisitions, completing its purchase of Financial Security Assurance in July 2009 and renaming it Assured Guaranty Municipal Corp. [33](https://assuredguaranty.com/about-us/history)[36](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Completes-Acquisition-of-Financial-Security-Assurance-Holdings-Ltd/default.aspx)[37](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Changes-Name-of-Subsidiary-Financial-Security-Assurance-Inc.-to-Assured-Guaranty-Municipal-Corp/default.aspx) It acquired Radian Asset Assurance in 2015, merging the business into Assured Guaranty Corp. [33](https://assuredguaranty.com/about-us/history)[38](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2015/Assured-Guaranty-Corp.-Completes-Acquisition-of-Radian-Asset-Assurance-Inc/default.aspx) In 2023, it expanded into asset management through an approximately 30% interest in Sound Point. [39](https://app.finbar.com/go?id=P119516237) In January 2026, it acquired Warwick Company (UK) Limited, parent of Assured Life Reinsurance, marking its entry into annuity reinsurance. [40](https://app.finbar.com/go?id=P99931954)[41](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2026/Assured-Guaranty-Enters-Annuity-Reinsurance-Market/default.aspx)
[33](https://assuredguaranty.com/about-us/history)[34](https://app.finbar.com/go?id=P12101643)[35](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2004/Assured-Guaranty-Ltd.-Closes-Initial-Public-Offering-Will-Issue-Its-First-Quarter-Earnings-on-Tuesday-May-11-2004/default.aspx)[36](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Completes-Acquisition-of-Financial-Security-Assurance-Holdings-Ltd/default.aspx)[37](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Changes-Name-of-Subsidiary-Financial-Security-Assurance-Inc.-to-Assured-Guaranty-Municipal-Corp/default.aspx)[38](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2015/Assured-Guaranty-Corp.-Completes-Acquisition-of-Radian-Asset-Assurance-Inc/default.aspx)[39](https://app.finbar.com/go?id=P119516237)[40](https://app.finbar.com/go?id=P99931954)[41](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2026/Assured-Guaranty-Enters-Annuity-Reinsurance-Market/default.aspx)[33](https://assuredguaranty.com/about-us/history)[35](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2004/Assured-Guaranty-Ltd.-Closes-Initial-Public-Offering-Will-Issue-Its-First-Quarter-Earnings-on-Tuesday-May-11-2004/default.aspx)[36](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Completes-Acquisition-of-Financial-Security-Assurance-Holdings-Ltd/default.aspx)[37](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2009/Assured-Guaranty-Ltd.-Changes-Name-of-Subsidiary-Financial-Security-Assurance-Inc.-to-Assured-Guaranty-Municipal-Corp/default.aspx)[38](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2015/Assured-Guaranty-Corp.-Completes-Acquisition-of-Radian-Asset-Assurance-Inc/default.aspx)[41](https://info.assuredguaranty.com/press-room/all-press-releases/news-details/2026/Assured-Guaranty-Enters-Annuity-Reinsurance-Market/default.aspx)

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1. [ASSURED GUARANTY LTD — Full financial report (2025 Y)](https://app.finbar.com/go?id=P64283187)
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18. [ASSURED GUARANTY LTD — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P154591267)
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39. [ASSURED GUARANTY LTD — Full financial report (2025 Y)](https://app.finbar.com/go?id=P119516237)
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