ASSURED GUARANTY LTD
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
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Corporate Division Results
Corporate Division Results
| First Quarter | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions) | ||
| Revenues | ||
| Bargain purchase gain | $6 | $— |
| Other | 2 | 4 |
| Total revenues | 8 | 4 |
| Expenses | ||
| Interest expense | 24 | 24 |
| Employee compensation and benefit expenses | 7 | 8 |
| Other operating expenses | 12 | 8 |
| Total expenses | 43 | 40 |
| Equity in earnings (losses) of investees | 19 | 16 |
| Adjusted operating income (loss) before income taxes | (16) | (20) |
| Less: Provision (benefit) for income taxes | (1) | — |
| Adjusted operating income (loss) | $(15) | $(20) |
In connection with the Assured Life Re Acquisition, the Company recognized a provisional bargain purchase gain of $6 million. See Item 1. Financial Statements, Note 2. Assured Life Re Acquisition, for additional information.
Corporate division interest expense primarily relates to debt issued by the U.S. Holding Companies, and also includes intersegment interest expense. See “— Liquidity and Capital Resources — AGL and its U.S. Holding Companies, Intercompany Loans Payable” for additional information. Equity in earnings of investees in first quarter 2026 and first quarter 2025 relates to certain legacy alternative investments.
Corporate division employee compensation and benefits expenses and other operating expenses are an allocation of expenses based on time studies and represent the costs incurred and time spent on holding company activities, capital management, corporate oversight and governance including the Board’s expenses, legal fees and other direct or allocated expense. Other operating expenses were higher in first quarter 2026 compared to first quarter 2025 primarily due to higher professional fees related to Assured Life Re Acquisition.
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