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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Net earned premiums $ 94 $ 97 $ 274 $ 300
Net investment income 94 82 270 247
Net realized investment gains (losses) (10) 0 (32) 2
Fair value gains (losses) on credit derivatives 5 3 110 19
Fair value gains (losses) on committed capital securities 8 (3) 9 (12)
Fair value gains (losses) on financial guaranty variable interest entities 3 (7) 6 (11)
Fair value gains (losses) on consolidated investment vehicles 17 21 40 54
Foreign exchange gains (losses) on remeasurement (23) 55 93 43
Fair value gains (losses) on trading securities 8 9 11 52
Other income (loss) 11 12 52 22
Total revenues 207 269 833 716
Expenses        
Loss and loss adjustment expenses (benefit) (30) (51) 38 (54)
Interest Expense, Operating 22 22 67 68
Amortization of deferred acquisition costs 6 5 16 14
Employee compensation and benefit expenses 50 47 160 153
Other operating expenses 44 44 131 124
Total expenses 92 67 412 305
Income (loss) before income taxes and equity in earnings (losses) of investees 115 202 421 411
Equity in Earnings (Losses) of Investees 20 18 76 47
Income (loss) before income taxes 135 220 497 458
Less: Provision (benefit) for income taxes 21 44 92 88
Net income (loss) 114 176 405 370
Less: Noncontrolling interests 9 5 21 12
Net income (loss) attributable to Assured Guaranty Ltd. $ 105 $ 171 $ 384 $ 358
Earnings per share:        
Basic (in dollars per share) $ 2.20 $ 3.23 $ 7.82 $ 6.57
Diluted (in dollars per share) $ 2.18 $ 3.17 $ 7.73 $ 6.44