Assured Guaranty Ltd. Announces Authorization of Insurance Subsidiary in the United Kingdom

Tuesday, July 27, 2004 5:10 pm EDT



Public Company Information:

"We are excited by the prospects for the financial guaranty business in U.K. and Europe and look forward to participating in this dynamic market."

HAMILTON, Bermuda--(BUSINESS WIRE)--Assured Guaranty Ltd. (NYSE: AGO) has announced that the Financial Services Authority has granted Assured Guaranty (UK) Ltd. permission to write financial guaranty insurance and reinsurance in the United Kingdom. Assured Guaranty (UK) Ltd. will focus on providing financial guaranty insurance for private finance initiative and other project and infrastructure finance transactions, asset-backed securities, commercial and residential mortgage-backed securities and collateralized debt obligations.

In addition to providing financial guaranty insurance in the United Kingdom, Assured Guaranty (UK) Ltd. also intends to apply for permission to write financial guaranty insurance and reinsurance in other European countries. "The formation of our U.K. company is a key strategic objective for 2004 and we are pleased to announce that we have accomplished it," said Michael Schozer, President of Assured Guaranty Corp. Dominic Frederico, Chief Executive Officer of Assured Guaranty Ltd., added, "We are excited by the prospects for the financial guaranty business in U.K. and Europe and look forward to participating in this dynamic market."

Assured Guaranty Corp., the direct parent of Assured Guaranty (UK) Ltd., has entered into certain reinsurance and net worth maintenance arrangements with Assured Guaranty (UK) Ltd. that are intended to convey to Assured Guaranty (UK) Ltd. the financial strength ratings of Assured Guaranty Corp., which is rated AAA (outlook negative) by Standard & Poor's and Aa1 by Moody's Investors Services.

Assured Guaranty Ltd. is a Bermuda-based holding company providing credit enhancement products to the U.S. and international municipal finance, structured finance and mortgage markets. More information can be found at

Cautionary Statement Regarding Forward-Looking Statements:

Any forward-looking statements made in this press release reflect the Company's current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. For example, the Company's forward-looking statements concerning potential business in the U.K. and Europe could be affected by demand, competition and regulatory action. The Company's forward-looking statements also could be affected by rating agency action such as a ratings downgrade, difficulties with the execution of the Company's business strategy, developments in the world's financial and capital markets, more severe losses or more frequent losses associated with products affecting the adequacy of the Company's loss reserve, changes in tax laws, loss of key personnel, changes in accounting policies or practices, and changes in general economic conditions, as well as management's response to these factors, and other risk factors identified in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Assured Guaranty Ltd.
United Kingdom:
Jack Lester, 20-7562-1900
Sabra Purtill, 212-408-6044
Barbara Van Hassel, 212-261-5580