Assured Guaranty Ltd. reported a net income of $176 million for the first quarter of 2025, a significant increase from $109 million in the same period last year. This translates to earnings per share of $3.44, compared to $1.89 in the first quarter of 2024. The company's total revenues rose to $345 million, up from $245 million in the prior year, driven by a fair value gain of $103 million related to the resolution of litigation with Lehman Brothers International (Europe) and foreign exchange gains of $37 million. However, net earned premiums decreased to $91 million from $119 million, primarily due to lower refundings of financial guaranty insurance exposures.
The company's total assets as of March 31, 2025, stood at $11.938 billion, a slight increase from $11.901 billion at the end of 2024. Shareholders' equity attributable to Assured Guaranty Ltd. also increased to $5.590 billion from $5.495 billion, reflecting the net income and unrealized gains on the investment portfolio, despite share repurchases and dividends. The company repurchased 1.3 million shares during the first quarter, with a remaining authorization of approximately $181 million for further buybacks.
Operationally, Assured Guaranty continues to focus on its insurance and asset management segments. The insurance segment generated $239 million in revenues, with a segment adjusted operating income of $168 million, up from $149 million in the previous year. The asset management segment also saw growth, with revenues increasing to $6 million from $1 million, primarily due to higher equity in earnings from investments in Sound Point Capital Management. The company is actively pursuing new business opportunities in both public finance and structured finance markets, aiming to expand its insured portfolio.
Looking ahead, Assured Guaranty remains cautious about the economic environment, particularly in light of rising inflation and geopolitical tensions that could impact credit markets. The company is committed to maintaining its financial strength and flexibility, with a focus on strategic investments and managing its capital effectively. The management anticipates that ongoing market volatility may create new business opportunities, while also recognizing the potential risks associated with economic downturns that could affect the performance of its insured obligations.
About ASSURED GUARANTY LTD
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