Q1 2025 Assured Guaranty Ltd Earnings Call Transcript
Key Points
- Adjusted operating income per share increased significantly to $3.18 in Q1 2025 from $1.96 in Q1 2024.
- Assured Guaranty Ltd (AGO) concluded litigation with Lehman Brothers International, resulting in a pretax gain of $103 million.
- The company achieved a 62% increase in adjusted operating income compared to the previous year.
- Investment income from alternative investments reached a record high of $59 million in Q1 2025.
- Assured Guaranty Ltd (AGO) maintained its leadership in the US municipal bond insurance market, capturing 64% of the primary market insured par sold.
- Net earned premiums and credit derivative revenues decreased by $28 million due to lower financial guarantee refundings and terminations.
- Economic loss development, excluding litigation benefits, was $48 million, mainly due to losses on the Puerto Rico Electric Power Authority and certain UK regulated utilities.
- Loss expense related to PREPA and certain health care exposures was $40 million.
- The company faces a highly volatile market environment and unpredictable economic conditions.
- There is uncertainty regarding the impact of tariffs on the credits wrapped by Assured Guaranty Ltd (AGO).
Good morning, and welcome to the Assured Guaranty Limited first quarter 2025 earnings conference call. My name is Ezra, and I will be the operator for today's call. (Operator Instructions) Please note that this event is being recorded.
I would now like to turn the conference over to our host, Robert Tucker, Senior Managing Director, Investor Relations and Corporate Communications. Please go ahead.
Thank you, operator, and thank you all for joining Assured Guaranty for our first quarter 2025 financial results conference call. Today's presentation is made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The presentation may contain forward-looking statements about our new business and credit outlooks, market conditions, credit spreads, financial ratings, loss reserves, financial results or other items that may affect our future results.
These statements are subject to change due to new
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