Assured Guaranty (AGO) Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, February 27, 2026 astatine 8:12 AM CST 19 min read

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Friday, February 27, 2026 astatine 8 a.m. ET

• President and Chief Executive Officer — Dominic John Frederico

• Chief Operating Officer — Robert Adam Bailenson

• Chief Financial Officer — Benjamin G. Rosenblum

• Managing Director, Investor Relations and Communications — Robert S. Tucker

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Robert S. Tucker: Today's presumption is made pursuant to the harmless harbor provisions of the Private Securities Litigation Reform Act of 1995. The presumption whitethorn incorporate forward-looking statements astir our caller concern and recognition marketplace conditions, recognition spreads, fiscal ratings, nonaccomplishment reserves, fiscal results, and different items that whitethorn impact our aboriginal results. These statements are taxable to alteration owed to caller accusation oregon aboriginal events. Therefore, you should not spot undue reliance connected them arsenic we bash not undertake immoderate work to publically update oregon revise them but arsenic required by law.

If you are listening to a replay of this call, oregon if you are speechmaking the transcript of the call, delight enactment that our statements made contiguous whitethorn person been updated since this call. Please notation to the Investor Information conception of our website for our astir caller presentations and SEC filings, astir existent fiscal filings, and for the hazard factors. The presumption besides includes references to non-GAAP fiscal measures. We contiguous the GAAP fiscal measures astir straight comparable to the non-GAAP fiscal measures referenced successful this presumption on with a reconciliation betwixt specified GAAP and non-GAAP fiscal measures successful our existent fiscal supplement and equity capitalist presentation, which are connected our website astatine assuredguaranty.com.

Turning to the presentation, our speakers contiguous are Dominic John Frederico, President and Chief Executive Officer of Assured Guaranty Ltd., Robert Adam Bailenson, our Chief Operating Officer, and Benjamin G. Rosenblum, our Chief Financial Officer. After their remarks, we volition unfastened the telephone to your questions. As the webcast is not enabled for Q&A, delight dial into the telephone if you would similar to inquire a question. I volition present crook the telephone implicit to Dominic.

Dominic John Frederico: Thank you, Robert, and invited to everyone joining today's call. We importantly precocious Assured Guaranty Ltd.’s cardinal concern strategies successful 2025, positioning america for sustainable semipermanent growth. Among this year's astir important accomplishments, we again brought our cardinal shareholder worth metrics astatine year-end 2025 to caller per-share highs of $186.43 for adjusted publication value, $126.78 for adjusted operating shareholders' equity, and $125.32 for shareholders' equity. We earned adjusted operating income per stock of $9.80 compared with $7.10 successful 2024 and created important aboriginal net from fiscal warrant originations. Our contiguous worth of caller concern production, oregon PVP, totaled $286 cardinal with meaningful contributions from each of our 3 fiscal warrant underwriting groups.