Assured Guaranty Ltd.

Assured Guaranty Ltd.

Assured Guaranty Ltd.

Overview
Date Founded

2003

Headquarters

30 Woodbourne Avenue,Hamilton HM 08

Type of Company

Public

Employees (Worldwide)

441

Industries

Insurance: Property & Casualty
Insurance: Specialty

Company Description

Assured Guaranty is the leading provider of financial guaranty insurance. We guarantee scheduled principal and interest payments when due on municipal, public infrastructure and structured financings. For more than a quarter century, in markets around the world, we have been committed to protecting debt holders from payment defaults and to helping issuers obtain cost-efficient access to capital. We also provide reinsurance to the financial guaranty industry. Our value proposition goes beyond our promise to pay principal and interest to investors in guaranteed financings. We also provide credit underwriting, negotiated terms, surveillance and, if necessary, remediation of the bonds we insure. These benefits create greater value and liquidity for investors. Issuers use our financial guarantees to lower their cost of funds, broaden distribution and diversify funding sources. Assured Guaranty Ltd. is a Bermuda-based insurance holding company that trades on the New York Stock Exchange with the ticker symbol AGO. Together with its subsidiaries, we refer to it as Assured Guaranty.

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Executives & Employees

Chief Financial Officer

Chief Investment Officer & Head of Asset Management

Secretary & General Counsel

Deputy General Counsel, Public Finance

Deputy General Counsel, Global Structured Finance & Infrastructure

Chief Risk Officer

Chief Information Officer

Chief Surveillance Officer

Chief Accounting Officer

Chief Credit Officer

Board of Directors

Chief Executive Officer at Assured Guaranty Municipal Holdings, Inc.

Former Chief Auditor & Global Head of Control & Emerging Risk at Citigroup, Inc.

Former Partner & Regional Director-Insurance Services at Ernst & Young LLP

Executive Vice President at Hartford Accident & Indemnity Co.

Former Chief Financial Officer, Treasurer & Executive Vice President at Frontier Insurance Group, Inc.

Founder at TWJ Capital LLC

Former Chief Executive Officer at Investec 1 Ltd.

Former MD, Head-Global Markets & Debt Office at Dresdner Bank AG

Chairman & Chief Executive Officer, Managing Partner at Landmark Equity Advisors LLC

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Owners & Shareholders
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PIM’s analysis of the financial markets is generally based on fundamental analysis and research, but also includes quantitative elements. Their research is focused on developing both a top-down view of broader market performance and a bottom-up outlook for individual securities. PIM’s computer-based models are designed to analyze a variety of financial data from various sources and generate investment selections. They rely on research generated in-house which is tailored to the precise needs of our investment professionals. External research is also used - for example, to evaluate consensus views and to augment the research process. In managing assets, PIM has the flexibility to invest in securities and other financial instruments of almost any type (including both cash securities, such as stocks and bonds, and derivative instruments, such as swaps, futures, forwards, and options).

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Thornburg is an active, long-term manager that aims to preserve and increase the real wealth of their investors through a range of equity strategies that redefine traditional measures of value and growth and through a family of bond strategies that focus on quality, stability and minimizing risk over time. The firm employs a fundamental and comprehensive analytical approach to equity investing. Their equity funds focus on a limited number of securities so that each holding can impact performance. Thornburg's equity team searches for firms that are believed to have a promising future and they seek to buy shares of those companies at a discount to their intrinsic value. On the fixed-income side, the firm conducts fundamental, bottom-up research in an effort to identify bonds they believe provide the best return for a given level of risk.

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Kahn Brothers Advisors (KBA) is a value investor that employs a bottom-up stock selection approach to invest in undervalued equity securities that are usually out-of-favor in the market. They are long-term investors with a typical 3- to year time horizon. If there are very few values to be found, the firm is comfortable holding cash.KBA invests in industries and businesses that they can understand, focusing on depressed economic sectors rather than the most popular industries and on seasoned businesses that are less likely to experience major structural change. They may make significant capital gains in conventional industries. KBA concentrates on small- and mid-cap stocks. Though not limited by sector, KBA tends to invest in the stocks of US companies in the finance, healthcare technology, consumer non-durables and electronic technology sectors. The firm invests across all market-caps. KBA maintains a very low turnover rate.KBA prefers to invest in companies in which management holds a meaningful stake and will protect their own as well as the shareholders' interests. They are less comfortable with situations in which management has aggressive base-pay packages and little ownership interest. The firm seeks to identify companies with solid balance sheets, strong working capital positions and minimal leverage. In their view, the balance sheet, not the income statement, is the best measure of overall corporate health. Consequently, many of KBA's investments have strong financial positions and weak short-term earnings.

Recent Transactions
Details Hidden

The Chan Soon-Shiong Family Foundation purchases St. Vincent Medical Center from Assured Guaranty Ltd.

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Assured Guaranty US Holdings, Inc., Assured Guaranty Ltd. purchase Assured Investment Management LLC from Affiliated Managers Group, Inc. (AMG)

Details Hidden

Assured Guaranty US Holdings, Inc., Assured Guaranty Ltd. purchase Rubicon Infrastructure Advisors Ltd.

Transaction Advisors
Legal Advisor

Advised onAssured Guaranty Ltd. purchases Financial Security Assurance Holdings /Insurance Business from Dexia SA

Auditor

Advised onAssured Guaranty Ltd. issued USD Common Stock

Underwriter

Advised onAssured Guaranty Ltd. issued USD Common Stock

Legal Advisor

Advised onAssured Guaranty Ltd. purchases Financial Security Assurance Holdings /Insurance Business from Dexia SA

Legal Advisor

Advised onAssured Guaranty Ltd., Assured Guaranty Corp. purchase MBIA UK Insurance Ltd. from MBIA, Inc.

Legal Advisor

Advised onAssured Guaranty Ltd. issued USD Common Stock

Advisors & Consultants
Legal Advisor

Partner at Debevoise & Plimpton LLP

Legal Advisor

Partner at Wollmuth Maher & Deutsch LLP

Legal Advisor

Partner at Selendy & Gay PLLC

Clients

MBIA, Inc. operates as holding company, which engages in the provision of financial guarantee insurance, related reinsurance, advisory and portfolio services, and asset management advisory services. It operates through the following business segments: U.S. Public Finance Insurance; Corporate; and International and Structured Finance Insurance. The U.S. Public Finance Insurance segment issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of U.S. political subdivisions through its National subsidiary. The Corporate segment consists of general corporate activities including providing general support services to MBIA's other operating businesses and asset and capital management. The International and Structured Finance Insurance segment comprises of the operation of MBIA Corp. The company was founded in 1973 and is headquartered in Purchase, NY.

National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Gas Transmission, U.S. Regulated, and National Grid Ventures and Other. The UK Electricity Transmission segment focuses on the electricity transmission networks in England and Wales and Great Britain system operator. The UK Gas Transmission segment includes the gas transmission networks in Great Britain and system operator in Great Britain. The U.S. Regulated segment involves gas distribution networks, electricity distribution networks, and electricity transmission networks in New York and New England. The National Grid Ventures and Other segment comprises all commercial operations in metering with a focus on investment and future activities in emerging growth areas. The company was founded in 1989 and is headquartered in London, the United Kingdom.

Ambac Financial Group, Inc. is a holding company, which engages in the provision of financial guarantee insurance policies through its subsidiary, Ambac Assurance Corp. Its services include credit, insurance, asset management, and other financial services. The company was founded on April 29, 1991 and is headquartered in New York, NY.

Key Stats and Financials As of 2020
Market Capitalization
$3.57B
Total Enterprise Value
$4.32B
Earnings Per Share
$4.2
Revenue
$964M
Net Profit
$362M
Total Debt
$1.54B
Total Equity
$6.7B
Enterprise Value / Sales
4.48x
TEVNet Income
11.92x
Debt TEV
0.36x
Three Year Compounded Annual Growth Rate Of Revenue
-14.21%
Suppliers
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Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

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American Overseas Group Limited Accounting & Financial Services | Hamilton, Bermuda

American Overseas Group Ltd. is a holding company which provides insurance services. It offers writing short-term, non-catastrophe and property-casualty reinsurance services. It operates through the following segments: Property/Casualty Insurance and Reinsurance, Financial Guaranty, and Corporate/Other. The Property/Casualty Insurance and Reinsurance segment provides insurance and reinsurance primarily related to United States short-tail personal lines. The Financial Guaranty segment includes AORE's financial guaranty operations which are in run-off. The company was founded on January 28, 1998 and is headquartered in Hamilton, Bermuda.

Competitors
Build America Mutual Assurance Co. Other Business & Consulting Services - New York, New York

Build America Mutual Assurance Co. is a private company headquartered in New York, NY, that operates as a mutual municipal bond insurance company. The firm was founded by Robert Phillips Cochran. Séan W. McCarthy is the CEO, in this role since 2012.The company says this about itself: BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing, and BAM is the preferred provider of bond insurance for members of the National League of Cities. Through March 31, 2020, BAM has insured more than $75 billion of municipal securities in more than 8,500 primary and secondary-market transactions.

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