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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'

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	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

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Radianaa...a'a		1,797		a"
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______________

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"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
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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

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	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'

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	2012a'331			2011a'1231
e'a'	$	4,182.5		$	4,651.6
aaae'i
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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
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e'a'	$	22.91		$	25.52
ee'a'		28.83			28.54
e'ae'eaa		49.37			49.32

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Assured Guaranty Ltd.
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				2012a'			2011a'


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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

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	2012a'331		2011a'1231
	2012a'331		2011a'1231
e"a
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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

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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

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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

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		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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