Assured Guaranty reports Q2 EPS $1.41, consensus $1.39

Reports Q2 revenue $189M, consensus $194.4M. “We have laid the foundation for an exceptional year in new business production. In the second quarter alone, our U.S. and international public finance and structured finance GWP totaled $132 million, and PVP totaled $155 million. These results were driven by the second best direct GWP and the best direct PVP produced in a second quarter since 2009. Our success in second quarter 2024 was a result of insuring several large infrastructure transactions, high U.S. municipal bond market issuance and bond insurance penetration, along with our 58% share of primary-market insured par sold, while still being selective on credit quality and maintaining our pricing discipline,” said Dominic Frederico, President and CEO. Once again, we reached new highs on a per-share basis for all three of our key shareholder value measures: shareholders’ equity, adjusted operating shareholders’ equity and adjusted book value. Additionally, we completed the merger of AGM into AG, formerly known as Assured Guaranty Corp., on August 1. This will result in a more efficient utilization of capital and simplify our organizational structure. In connection with the merger, the Maryland Insurance Administration approved, and on August 5 we completed, a $300 million stock redemption from the combined company to the holding company level. This followed a $100 million stock redemption by AGM in the second quarter.”