ASSURED GUARANTY LTD
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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Asset Management Segment
Asset Management Segment Results
Asset Management Segment Results
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions) | |||
| Segment revenues | $10 | $76 | $112 |
| Segment expenses | 6 | 78 | 119 |
| Equity in earnings (losses) of investees | 2 | 5 | — |
| Segment adjusted operating income (loss) before income taxes | 6 | 3 | (7) |
| Less: Provision (benefit) for income taxes | 1 | — | (1) |
| Segment adjusted operating income (loss) | $5 | $3 | $(6) |
Results in the table above primarily represent (i) equity in earnings of Sound Point since the third quarter of 2023 (Sound Point results are reported on a one-quarter lag), net of the amortization of finite-lived intangible assets associated with the basis difference in Sound Point, and incentive fees, and (ii) the consolidated results of AssuredIM for 2022 and the first half of 2023, prior to the Sound Point Transaction and the AHP Transaction. See Item 8, Financial Statements and Supplementary Data, Note 7, Investments and Cash, for additional information.
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