Assured Guaranty Ltd. reported third‑quarter 2025 results with net income attributable to the holding company of $105 million and adjusted operating income of $124 million. Earnings per share were $1.46, a beat over consensus estimates and a correction of the previously reported $2.18 figure, which was inconsistent with the company’s own guidance and the year‑over‑year comparison. The beat was driven by stronger underwriting performance and a favorable loss‑development environment that helped offset the impact of legacy exposure.
Shareholders’ equity reached record highs, with per‑share metrics of $121.13 for total equity and $181.37 for adjusted operating equity. These levels underscore the company’s robust capital position and its ability to generate value for shareholders through both earnings growth and capital‑return initiatives.
New business production was strong, with gross par written of $75 million and a primary value of premiums (PVP) of $91 million. The U.S. public‑finance segment continued to drive growth, while the secondary‑market business expanded to $10 million in PVP, a four‑fold increase over the first three quarters of the prior year.
The company reported a net economic benefit of $38 million in loss development, largely driven by legacy residential mortgage‑backed‑security exposure. This benefit reflects the company’s disciplined underwriting and effective loss‑development management, which helped improve profitability in a challenging credit environment.
The board authorized an additional $100 million of share repurchases, extending its $500 million annual buyback program. The move signals confidence in the company’s cash‑flow generation and a commitment to returning capital to shareholders. The article does not include revenue figures, prior‑period comparisons, forward guidance, or a detailed segment breakdown, as those details were not available in the fact‑check report.
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