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Assured Guaranty Q4 PVP increases 33% Y/Y

Feb. 28, 2019 5:48 PM ETAssured Guaranty Ltd. (AGO) StockBy: Liz Kiesche, SA News Editor
  • Assured Guaranty (NYSE:AGO) Q4 non-GAAP operating income of $92M, or 87 cents per share, compares with $91M, or 77 cents per share, in the year-ago quarter.
  1. Includes loss of $3M, or 2 cents, related to consolidating financial guaranty variable interest entities.
  • Q4 gross written premiums of $96M rose from $72M a year ago.
  • Q4 present value of new business production increased to $96M from $77M a year ago.
  • Q4 gross par written of $4.85B vs. $4.78B.
  • “By writing new business in all of our financial guaranty markets--U.S. public finance, international infrastructure finance, and structured finance--and additionally reinsuring the preponderance of a legacy guarantor’s insured portfolio, we drove a 129% year-over-year increase in PVP to bring our new business production to a level not seen since 2008,” says President and CEO Dominic Frederico.
  • Conference call on March 1 at 8:00 AM ET.
  • Previously: Assured Guaranty beats by $0.11 (Feb. 28)

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