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Last $25.62 USD
Change Today -0.37 / -1.42%
Volume 1.8M
AGO On Other Exchanges
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As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

assured guaranty ltd (AGO) Key Developments

Assured Guaranty Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Assured Guaranty Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, operating income was $278 million or $1.83 per diluted share against $101 million or $0.56 per diluted share last year. Net income was $297 million or $1.96 per diluted share against $159 million or $0.89 per basic and diluted share last year. ROE, excluding unrealized gain (loss) on investment portfolio was 21.7% against 12.9% last year. Operating ROE was 18.7% against 6.5% last year. Total revenues were $695 million against $353 million last year. Income before income taxes was $409 million against $218 million last year. Non-GAAP total revenues were $649 million against $260 million last year. Non-GAAP income before income taxes was $372 million against $136 million last year. Non-GAAP net income was $278 million against $101 million last year. The increase in pre-tax income was primarily attributable to (i) the acquisition of Radian Asset, which resulted in a bargain purchase gain of $55 million and a gain on settlement of pre-existing reinsurance relationships of $159 million, (ii) an $83 million increase in net earned premiums, and (iii) gains on commutations of previously ceded business of $33 million in second quarter 2015. For the six months, operating income was $418 million or $2.71 per diluted share against $233 million or $1.28 per diluted share last year. Net income was $498 million or $3.23 per diluted share against $201 million or $1.11 per diluted share last year. ROE, excluding unrealized gain (loss) on investment portfolio was 18.2% against 8.2% last year. Operating ROE was 14.0% against 7.6% last year. Total revenues were $1,064 million against $548 million last year. Income before income taxes was $675 million against $287 million last year. Non-GAAP total revenues were $926 million against $557 million last year. Non-GAAP income before income taxes was $552 million against $316 million last year. Non-GAAP net income was $418 million against $233 million last year. Adjusted book value per share was $58.69 against $53.66 at December 31, 2014.

Assured Guaranty Ltd. Declares Quarterly Dividend, Payable on September 2, 2015

Assured Guaranty Ltd. declared a quarterly dividend of $0.12 per common share. The dividend is payable on September 2, 2015 to shareholders of record at the close of business on August 19, 2015.

Assured Guaranty Ltd. Announces Executive Appointments

Assured Guaranty Ltd. announced that Thomas W. Jones and Alan J. Kreczko have been appointed as independent directors to the Company’s Board of Directors. Mr. Jones and Mr. Kreczko will each serve on the board’s Audit and Finance Committees. Mr. Jones is the founder and senior partner of venture capital firm TWJ Capital LLC. Prior to founding TWJ Capital in 2005, he was the chief executive officer of Global Investment Management at Citigroup, which included Citigroup Asset Management, Citigroup Alternative Investments, Citigroup Private Bank and Traveler’s Life & Annuity. Earlier, he held a series of positions at TIAA-CREF, including vice chairman and director, president and chief operating officer, and executive vice president and chief financial officer, and at John Hancock Mutual Life Insurance Company, where he rose to senior vice president and treasurer. Mr. Kreczko retired in June 2015 from his position as executive vice president and general counsel of The Hartford, a role he assumed in June 2007. In that capacity, he oversaw the law department, government affairs, compliance and communications. Additionally, he chaired the company’s Environment Committee. He joined The Hartford in 2003 after 27 years in public service at the United States Department of State, where he held various senior positions.

Assured Guaranty Ltd. to Report Q2, 2015 Results on Aug 06, 2015

Assured Guaranty Ltd. announced that they will report Q2, 2015 results at 7:00 AM, US Eastern Standard Time on Aug 06, 2015

Assured Guaranty Ltd., Q2 2015 Earnings Call, Aug 06, 2015

Assured Guaranty Ltd., Q2 2015 Earnings Call, Aug 06, 2015

 

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AGO

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Valuation AGO Industry Range
Price/Earnings 3.0x
Price/Sales 1.7x
Price/Book 0.7x
Price/Cash Flow 2.7x
TEV/Sales 0.7x
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