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- First quarter 2013 operating income1 was $260 million, or $1.34 per share, a new record for quarterly operating income. In first quarter 2012, operating income was $71 million, or $0.38 per share.
- First quarter 2013 net loss was $144 million, or $0.74 per share, compared with a first quarter 2012 net loss of $483 million, or $2.65 per share. Net loss was primarily due to non-economic fair value losses on credit derivatives (which are expected to reverse by contract maturity).
- Settlement agreement with UBS resulted in a $142 million ($93 million after tax) net economic benefit, of which $109 million ($71 million after tax) was recorded in operating income, and $33 million ($22 million after tax) will reduce future loss expense.
- Common share repurchases resulted in per share increases of $0.27 to adjusted book value1, $0.11 to operating shareholders' equity1 and $0.04 to GAAP book value.
HAMILTON, Bermuda--(BUSINESS WIRE)--Assured Guaranty Ltd. (NYSE:AGO) (“AGL” and, together with its subsidiaries, “Assured Guaranty” or the “Company”) announced today its financial results for the three-month period ended March 31, 2013 (“first quarter 2013”). The Company reported operating income for first quarter 2013 of $260 million, or $1.34 per share. This represents a 266% increase compared with the three-month period ended March 31, 2012 ("first quarter 2012more...
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Please note that the financial statements in documents in this section for the periods ended September 2009 through June 2011 should not be relied on because Assured Guaranty restated them.
Click for restated informationContact Information
Ashweeta Durani
Vice President, Corporate Communications
1 212 408 6042 | 1 212 445 8702
Email