Surge in Q4 sees Assured Guaranty finish the year with solid profits

Bermuda’s Assured Guaranty Ltd has reported a $263 million profit for the fourth quarter and $389m for the full year 2021. Both figures are up on the same periods for 2020 – $148m and $362m for the quarter and the year, respectively.

Gross written premiums (GWP) were down, however, at $100 million in Q4 and $377m for 2021, against $120m and $454m for Q4 2020 and the full year, respectively.

“Assured Guaranty’s outstanding 2021 results reflected the success of our uniquely diversified insurance strategy, the effectiveness of our loss mitigation efforts in Puerto Rico and RMBS, and our exercise of prudent capital management,” said Dominic Frederico, Assured Guaranty president and CEO.

“We more than doubled annual adjusted operating income per share, brought our three principal measures of shareholder value to new highs, and produced $350 million or more of direct PVP for the third consecutive year. With a more than 60% share of insured par issued, we led the municipal bond insurance industry to its highest market penetration in a dozen years. Our insurance business also performed well in international and structured finance markets, and we made significant strides in our asset management business.”