Business & Finance
Wed, May 16, 2012
...aaa"e--([ BUSINESS WIRE ])--(aaa'e"e)--a'a"ae"eeRMBSa'eiAssured Guaranty Ltd. (NYSE:AGO)iaAGLaia'a...aa...a'aa'aAssured Guarantyaaea...a'aiaaaa'iea...a'a'a"ae"eaa...e"aa...a'iaa"ae"eaiea'eieaaa'"a"ae"ea'eae"aea"Assured Guarantye'e...aae"a"a"ea'(aRMBSa)a"iaaAssured Guarantyeea"eaa"a"aea'aa"a'aRMBSa'a..."e'a'
aa'a'a"ae"eeae"a'eaiAssured Guarantyea1.656aa..."e'aia...a'a'eaa"aaeAssured Guarantyeaaaa...aea"aa"a'e'a"aieaeee'a"ae"ea'a"aa'Assured Guarantya"RMBS'a...aaaa'e...iea'eea...a'2012a'331"10-Qea'a'
Assured Guarantyea...ea'eaDominic Fredericoeia'aaea...'a'a"ae"eea'eiea'eaa'ae'aRMBSa"aea'a"ae"e'aaea12a'eea'e"aaaae'e"a'a'eea'aaa'a"e"ae'aeia'a...aaa"e'aiea'"aaae'eaaaa...a''aaaaAssured Guaranty"eeeRMBS37%"eaaeeaa"a'ea'a
1eae'aaa'...ae"aeaa(aGAAPa)aa"iaeGAAPe'aaia'ea'eea'aa...aeGAAPe'a"e'aa'e1ia"iaia'e""ee'ea'
2a'aea"ea...a...aae'iaeaa...a...aaaaiia'a"e"aa"ae'e...aaaaaa"(aFG VIEa)a'ee"ea'(aCCSa)a...a'eaea...a...aae'a"e...ee"aa"a...a...aae'iaaaaaa'eiaa'"aa"a'a'ee"a'
e'aa'
Assured Guarantyaaea...a'aa...e2012a'331"a'aae'aa'a'
2012a'a'aaiea...a'aae"7120a'a...iae'0.38a...ia'a...a'a...a'"aa...aaea'"a'ea'a'a..."5420a'a...iae'0.30a...i"a'aea...1.365aa...iae'0.73a...i"aaaia"aea...a'e"eaa'e...a'aaa'e'a"aa'2012a'a'aaaa4.83aa...iae'2.65a...iia...a'a...5.6aa..."ea...a...aaaaa'e2011a'331"a'a'ia2011a'a'aaaiia"a'1.393aa...ia'e"ae'0.74a...iia...a'a...1.192aa..."ea...a...aaaaaaaa'a'ae"ee"aea"a'
Fredericoa..."eia'a"a'aaa'aaAssured Guarantyaa'a"a'a''aaa'ea"e'a"eaa'aa'aa"e'FSAa'a'e...aa...aee'aaaeaia'aa"aaae'"e"ie'a"e'eaaaea'aiaaaaa"ae""...aa'i'aaea'aaaa...a...e'"Aa''a"'ea'a
| e1ia"iaia'e"ee'e1 | ||||
| iaaia'ie'eai | ||||
e331"aa | ||||
| 2012a' | 2011a' | |||
| a"iai | $(483.0) | $139.3 | ||
| aaae'i | ||||
| aae""iai | (0.7) | 1.9 | ||
| a...a"e"aa""ea"aaaa...a...aa"iai | (517.0) | (217.7) | ||
| a...CCS"a...a...aa"iai | (9.1) | 0.3 | ||
| a...eaa""ae'aaaa'ae'e'"(aLAEa)aae'"a"iai | 6.5 | 9.2 | ||
| aaFG VIE"aa" | (33.9) | 98.2 | ||
| e" | $71.2 | $247.4 | ||
| 'e"ae'a"iai2 | $(2.65) | $0.74 | ||
| 'e"ae'e"2 | $0.38 | $1.32 | ||
| 'e"aaaee'a"a"GAAP | 182.4 | 187.1 | ||
| 'e"aaaee'a"a"ea' | 186.2 | 187.1 | ||
| 1. ea...a'e"aaeaaaaai"aae'a"aa'e'ea'ea2011a'a'aa"a"a'e"a'ea130a'a...iae'0.01a...ia' | ||||
| 2. 'e"ae'"iai"iaiea'e"aaaee'eia'a...a'e"ea'"aa"a' | ||||
a'a"a
| e2ia'a"aaiaPVPai1a'aea | ||||||
| iaaia'i | ||||||
| e331"aa | ||||||
| 2012a' | 2011a' | |||||
| a...a...e'" a" a | ||||||
| ' | $ | 30.5 | $ | 34.0 | ||
| Radianaa...a'a | 21.9 | a" | ||||
| a...a...e'" a" aaaaa | a" | a" | ||||
| ""e'e a" a | 3.9 | 11.3 | ||||
| ""e'e a" aaaaa | a" | 7.2 | ||||
| PVPe | $ | 56.3 | $ | 52.5 | ||
| a...a...e'" | ||||||
| ' | $ | 3,046 | $ | 2,219 | ||
| Radianaa...a'a | 1,797 | a" | ||||
| ""e'e | 38 | 100 | ||||
| aea | $ | 4,881 | $ | 2,319 | ||
______________
1a'eea'aa...aeGAAPe'a"e'aa'
2012a'a'aaPVPa'5630a'a...iea'a'aa'5250a'a...a'2012a'a'aaPVPa'a...eRadian Asset Assurance Inc. (aRadiana)aa...a...a...e'"a'a"2190a'a...ieea...a'e2009a'a"eaa'aa...aaeaea'"aa'a"aaaaa'a'"a""iaa...a...e'"'PVPe2011a'a'aaa''a'2012a'a'aaiaa...a...e'"'aeaea'a'aae37.3%a'2012a'a'aaieae"a''a'ea'2011a'a'aaaiea'ea"eeia''a'eaa2011a'a'aa"10.9%ee11.9%a'aa"aa...'"a''aaa'iea...a'a"aa...a'"e"aia...'aea"aaa...ee"a2011a'a'aa"A-a'ee2012a'a'aa"Aa'a'a'ei"aa'a"aaaaa'iaaaa'a'aiai2012a'a'aaa"a'ea'a'e"aa"ae'ia'a...Radianaa...a'aia'2011a'a'aaaa'
2012a'a'aae"'e
e3e'aAssured Guarantye"""eaiaaaa'GAAPa"a'eGAAPe"ee'ea'
| e3iaa'GAAP"a'eGAAPe"a'ee'e | ||||||||||||||
| iaaia'ie'eai | ||||||||||||||
| e2012a'331"aa | e2011a'331"aa | |||||||||||||
| aa'GAAP "e | aai e" e' | eGAAP e" a' | aa'GAAP "e | aai e" e' | eGAAP e" a' | |||||||||
| "a...i | ||||||||||||||
| aeae' | $193.7 | $(17.0) | $210.7 | $254.0 | $(19.1) | $273.1 | ||||||||
| ae"" | 97.8 | 1.9 | 95.9 | 97.4 | (0.3) | 97.7 | ||||||||
| aaae""iai | 1.3 | (0.5) | 1.8 | 2.8 | 2.8 | a" | ||||||||
| a"e"aa"a...a...aaae' | (690.7) | (719.5) | 28.8 | (236.2) | (297.2) | 61.0 | ||||||||
| a...CCS"a...a...aa"iai | (13.9) | (13.9) | a" | 0.5 | 0.5 | a" | ||||||||
| a...FG VIE"a...a...aa"iai | (36.6) | (36.6) | a" | 119.6 | 119.6 | a" | ||||||||
| a...a" | 91.0 | 2.7 | 88.3 | 40.9 | 12.9 | 28.0 | ||||||||
| "a... | (357.4) | (782.9) | 425.5 | 279.0 | (180.8) | 459.8 | ||||||||
| e'"i | ||||||||||||||
| ae'"i | ||||||||||||||
| e'e...aae | 246.8 | (2.3) | 249.1 | (25.5) | (50.7) | 25.2 | ||||||||
| a"e"aa" | a" | 1.7 | (1.7) | a" | (0.1) | 0.1 | ||||||||
| e'a"e''e" | 5.4 | a" | 5.4 | 3.7 | a" | 3.7 | ||||||||
| ae'" | 24.7 | a" | 24.7 | 24.8 | a" | 24.8 | ||||||||
| a...aee'" | 61.3 | a" | 61.3 | 62.8 | a" | 62.8 | ||||||||
| e'" | 338.2 | (0.6) | 338.8 | 65.8 | (50.8) | 116.6 | ||||||||
| aa"iai | (695.6) | (782.3) | 86.7 | 213.2 | (130.0) | 343.2 | ||||||||
| aaae'iai | (212.6) | (228.1) | 15.5 | 73.9 | (21.9) | 95.8 | ||||||||
| "iai | $(483.0) | $(554.2) | $71.2 | $139.3 | $(108.1) | $247.4 | ||||||||
| 'e"ae' | 182.4 | 186.2 | 187.1 | 187.1 | ||||||||||
| 'e"ae'" | $(2.65) | $0.38 | $0.74 | $1.32 | ||||||||||
2012a'a'aae"""eaa'2011a'a'aa"'aeee"eia'"aaa"aaa'
- aeae'i2012a'a'aae"a'a...a"aeae'a'2.107aa...a'2011a'a'aa"aeae'a'2.731aa...iaaa""a'ae"eaiaa...""e'eaa""aa'2012a'a'aaeaee""aeae'a'3660a'a...ie2011a'a'aaa'2960a'a...a'
- a"e"aa""a...i2012a'a'aae"a'a...a"a"e"aa""a...a'2880a'a...a'2011a'a'aa"a"e"aa""a...a'6100a'a...iaaa""""e'ea'ae"eaiea'"2011a'a'aaaae"a'a1550a'a..."aaa'
- a...a"i2012a'a'aa"a...a"a..."aa...aaea'"a'a'aaea"a'aa'"8330a'a..."a'2011a'aa""a'2410a'a...a'
- ae'"iea...a'2012a'a'aa"ae'"a'2.474aa...ia1.734aa...ia'e"ae'0.93a...ia'2011a'a'aa"ae'"a'2530a'a...ia1780a'a...ia'e"ae'0.10a...iia...a'a...a'ae"ee"aea'a"a'"e2aa..."a'a'2012a'a'aaae'"aaae'"a...a'e...a'aa"1.893aa...ia1.365aa...ia'e"ae'0.73a...iae'"a'ea'eaaa'aaa'
- ai2012a'a'aae""a'17.9%ie2011a'a'aaa'28.0%ieaa'a...aa...a'a"a"ae"a'
aa'a
aa'aAssured Guaranty"e"aa...a'a"aa"a'eiaeeaa'aa'eae'e"aa'""aaia''aeaaaeaa"e'ie''aaie"ae''aaiaaaaa"a'e"aa...ea...a'ae'e...aa"e"aa"aaa"a"ia'eGAAPe"a"a"aeaa'e4aaa...e"aa"aaa'
| e4ia...e"aa"aa | |||||||||
| e'e...aaeaaa'a"e"aa" | |||||||||
| iaaia'i | |||||||||
| e'e...a aeaaa' a"e"aa" | e2011a' 1231 "e"aa | 2012a'a'aa "aa'a | 2012a'a'aa i"ai"a"a | e2012a' 331 "e"aa | |||||
| R&Wai | |||||||||
| aRMBS | $2,280.6 | $68.0 | $(224.2) | $2,124.4 | |||||
| a...a | 473.2 | 194.6 | 21.8 | 689.6 | |||||
| R&Wae | 2,753.8 | 262.6 | (202.4) | 2,814.0 | |||||
| a...aaRMBS"R&W | (1,649.8) | (50.8) | 69.6 | (1,631.0) | |||||
| eR&Wa"e | $1,104.0 | $211.8 | $(132.8) | $1,183.0 | |||||
2012a'a'aa"aa'aea'2.118aa...ia1.514aa...ia'2012a'a'aaaaa'a"eea'eaaa...ea...a'a"a'e...a'aa"a...eaieea1.893aa..."eaaa'aa'
2012a'a'aaiaRMBSa'aa'aee'a1720a'a...iaaaaRMBSaaa"e'a"eae"'aieaaaaa'eeea'ae(aR&Wa)""a"a'e''e"aa"a'
e'eaa
e'ae'eaa"ea'eaa'"aaa...aaea'"aae'aae'a''a..."aaa'a"aieaeaa'aeaa'e5aae'eaaa'ee'a'a'e'ae'eaa"ee'ea'e'ee'a'"aea'eeea...a'2012a'a'aaaa"7120a'a...e"a'e2012a'331ie'e'ae'eaaa'49.37a...ie2011a'1231a'49.32a...a'e2012a'331ie'e'a'e2011a'1231a'e10.2%e22.91a...iea'eaa'ea...a'2012a'a'aaaa4.83aa...iaaee""a"a"a'e2012a'331ie'ee'a'a'28.83a...a'
| e5ie'a'a'ee'a'a'e'ae'eaaee'e | ||||||||
| iaaia'ie'eai | ||||||||
| e | ||||||||
| 2012a'331 | 2011a'1231 | |||||||
| e'a' | $ | 4,182.5 | $ | 4,651.6 | ||||
| aaae'i | ||||||||
| aaFG VIE"aa" | (438.7 | ) | (405.2 | ) | ||||
| a...a"e"aa""ea"aaaa...a...aa"iai | (1,021.1 | ) | (498.0 | ) | ||||
| a...CCS"a...a...aa"iai | 26.0 | 35.0 | ||||||
| a'eaaa"ia...e""a"a"iai | 353.9 | 318.4 | ||||||
| ee'a' | 5,262.4 | 5,201.4 | ||||||
| ae'i | ||||||||
| aaiae'a"e' | 173.0 | 174.1 | ||||||
| aa'iae"a"e"aa""a..."aa | 274.8 | 302.3 | ||||||
| aa'ie...ae"a"a...e'e...aaa"aaae'aae' | 3,646.1 | 3,658.0 | ||||||
| e'ae'eaa | $ | 9,010.3 | $ | 8,987.6 | ||||
| aaee' | 182.5 | 182.2 | ||||||
| e'i | ||||||||
| e'a' | $ | 22.91 | $ | 25.52 | ||||
| ee'a' | 28.83 | 28.54 | ||||||
| e'ae'eaa | 49.37 | 49.32 | ||||||
"eaea''a'ai
ea...a'aa2012a'511ia"iaa'ee'a'a7:00iae'e'a'a8:00iea'e"e...aa"eaea'aaaea...a''[ http://www.assuredguaranty.com ]a'"e"e...aa'"1-877-317-6789iaia1-866-605-3852iaai1-412-317-6789iae...i"ae"eae"'a'a'ae"e'aa''ae2012a'711a'a'"aaee'ie"1-877-344-7529iai1-412-317-0088iae...iae"a...ai10013652a'e'aa"eae"a'aaaa'
ea'eAssured Guarantya2012a'331aa...a''[ http://www.assuredguaranty.com/investor-information/by-company/assured-guaranty-ltd/financial-information ]a...a'"e'aa'e"aiae'aa...aea...a'e'e...a"aae""aa'a...ae"aa'ea...a'eaa'a"eea'a...a'i
- a2012a'a'aa"a...a...e'"a"aiaaa2012a'a'aaea...a'a"a'eaa...a...e'"a"iaa
- ae2012a'331"""e'ea"aiaaaea...a'ea""""e'ea"...aa'
ea...a'eaa[ http://www.assuredguaranty.com/presentations ]a'a...a'ae2012a'331"e"e...a'aa'aia"ea...a'aa"e'aa'e"aaa...aa"a'aa...a''a'a...a'ieaaa'a...a''a'"ae"aa...aa8-Kea"aaaa'a'a'
Assured Guaranty Ltd.a'aeaa...a"a'a''e'a...a'(NYSE: AGO)a'a...eeaa...a'a'aa'ae...a...a...e'"aaea'""e'ea''aaae'aaaa"a'aea...Assured Guaranty Ltd.aa...aa...a'"e...ieeei[ www.assuredguaranty.com ]a'
| Assured Guaranty Ltd. | ||||||||||||
| aaee | ||||||||||||
| iaaia'i | ||||||||||||
| e331"aa | ||||||||||||
| 2012a' | 2011a' | |||||||||||
| "a...i | ||||||||||||
| aeae' | $ | 193.7 | $ | 254.0 | ||||||||
| ae"" | 97.8 | 97.4 | ||||||||||
| aaae""iai | 1.3 | 2.8 | ||||||||||
| a"e"aa"a...a...aaae'i | ||||||||||||
| aa"iaia'a...a" | (56.9 | ) | 35.4 | |||||||||
| aa"iai | (633.8 | ) | (271.6 | ) | ||||||||
| a"e"aa"a...a...aaae' | (690.7 | ) | (236.2 | ) | ||||||||
| a...CCS"a...a...aa"iai | (13.9 | ) | 0.5 | |||||||||
| a...FG VIE"a...a...aa"iai | (36.6 | ) | 119.6 | |||||||||
| a...a" | 91.0 | 40.9 | ||||||||||
| "a... | (357.4 | ) | 279.0 | |||||||||
| e'"i | ||||||||||||
| aa'LAE | 246.8 | (25.5 | ) | |||||||||
| e'a"e''e" | 5.4 | 3.7 | ||||||||||
| ae'" | 24.7 | 24.8 | ||||||||||
| a...aee'" | 61.3 | 62.8 | ||||||||||
| e'" | 338.2 | 65.8 | ||||||||||
| aa"iai | (695.6 | ) | 213.2 | |||||||||
| aaae'iai | (212.6 | ) | 73.9 | |||||||||
| a"iai | (483.0 | ) | 139.3 | |||||||||
| aaae'i | ||||||||||||
| aae""iai | (0.7 | ) | 1.9 | |||||||||
| a...a"e"aa""ea"aaaa...a...aa"iai | (517.0 | ) | (217.7 | ) | ||||||||
| a...CCS"a...a...aa"iai | (9.1 | ) | 0.3 | |||||||||
| a...eaa""ae'aaaa'LAEaae'"a"iai | 6.5 | 9.2 | ||||||||||
| aaFG VIE"aa" | (33.9 | ) | 98.2 | |||||||||
| e" | $ | 71.2 | $ | 247.4 | ||||||||
| Assured Guaranty Ltd. | ||||||||||||
| aae"ae'ae | ||||||||||||
| iaaia'i | ||||||||||||
| e | ||||||||||||
| 2012a'331 | 2011a'1231 | |||||||||||
| e"a | ||||||||||||
| e""ai | ||||||||||||
| a...a...aae"a...a"aaaea' | $ | 10,204.9 | $ | 10,141.9 | ||||||||
| a...a...aae"e" | 903.4 | 734.0 | ||||||||||
| a...ae"e"a | 203.9 | 222.9 | ||||||||||
| e""ae | 11,312.2 | 11,098.8 | ||||||||||
| e' | 182.0 | 214.5 | ||||||||||
| a""ae'ieea'"a"aae' | 1,018.7 | 1,002.9 | ||||||||||
| ea'"aae'aae' | 631.4 | 708.9 | ||||||||||
| e'a"e' | 129.0 | 132.4 | ||||||||||
| aaaae"a"aa | 152.9 | 69.3 | ||||||||||
| a"a'aa'aae'" | 367.3 | 367.7 | ||||||||||
| a"e"aa"e"a | 463.6 | 468.9 | ||||||||||
| e'aee"aiaa | 1,031.8 | 803.5 | ||||||||||
| a"aa""a | 50.3 | 76.4 | ||||||||||
| a...a...aae"FG VIEe"a | 2,827.7 | 2,819.1 | ||||||||||
| a...ae"a | 337.9 | 262.3 | ||||||||||
| e"a | $ | 18,504.8 | $ | 18,024.7 | ||||||||
| e'aa'e'a' | ||||||||||||
| e'a | ||||||||||||
| aae'aae' | $ | 5,839.2 | $ | 5,962.8 | ||||||||
| aa'LAEaae' | 954.5 | 679.0 | ||||||||||
| a"aaaeaeiaa | 204.2 | 171.0 | ||||||||||
| eaa | 1,034.7 | 1,038.3 | ||||||||||
| a"e"aa"e'a | 2,416.3 | 1,772.8 | ||||||||||
| a...a...aae"FG VIEae'e'a | 2,365.2 | 2,396.9 | ||||||||||
| a...a...aae"FG VIEa'ae'e'a | 1,085.6 | 1,061.5 | ||||||||||
| a...ae'a | 422.6 | 290.8 | ||||||||||
| e'a | 14,322.3 | 13,373.1 | ||||||||||
| e'a' | ||||||||||||
| ee' | 1.8 | 1.8 | ||||||||||
| eaa"e" | 2,569.5 | 2,569.9 | ||||||||||
| a" | 1,208.4 | 1,708.0 | ||||||||||
| 'ea...aa" | 398.4 | 367.5 | ||||||||||
| e'aea | 4.4 | 4.4 | ||||||||||
| e'a' | 4,182.5 | 4,651.6 | ||||||||||
| e'aa'e'a'e | $ | 18,504.8 | $ | 18,024.7 | ||||||||
a...aeGAAPe'a"e'i
ea...a'a'eaaeaGAAP"e'aa'Assured Guaranty"a'a'e'aa"eGAAPe"aea...a'"e'aa'iaaa'aaeaa'"aee...a'eeaeaeGAAPe'aie"e...aaa'a'e'eeee...aaeaa'a'a...ee"a"a'a"aa'aiAssured Guarantya...aeGAAPe'a"eeia'aa'aa...aAssured Guaranty""a'a'eea...a'"e'aa'aa"a'e'iaa'"a'e"e...aaa'a'e'eea'a"e"aAssured Guarantye'aa'"a'e'a'
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| PVPa'aae'ee'e | |||||||
| iaaia'i | |||||||
e331"aa | |||||||
| 2012a' | 2011a' | ||||||
| PVP | $ | 56.3 | $ | 52.5 | |||
| aie'e...aaae'PVP | 4.0 | 18.7 | |||||
| aeie'e...aaaae' | 52.3 | 33.8 | |||||
| aie'e...aaaae'1 | 36.1 | (45.3 | ) | ||||
| aae'ae | $ | 88.4 | $ | (11.5 | ) | ||
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