Last $22.87 USD
Change Today -0.02 / -0.09%
Volume 2.9M
AGO On Other Exchanges
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

30 Woodbourne Avenue

Hamilton, HM 08

Bermuda

Phone: 441-279-5700

Fax: 441-279-5701

Assured Guaranty Ltd., through its subsidiaries, offers credit protection products to the United States (U.S.) and international public finance (including infrastructure) and structured finance markets. Obligations insured by the company include bonds issued by U.S. state or municipal governmental authorities; notes issued to finance international infrastructure projects; and asset-backed securities issued by special purpose entities. The company markets its financial guaranty insurance directly to issuers and underwriters of public finance and structured finance securities, as well as to investors in such obligations. The company guarantees obligations issued principally in the U.S. and the United Kingdom (U.K). The company also guarantees obligations issued in other countries and regions, including Australia and Western Europe. Subsidiaries The company conducts its financial guaranty business on a direct basis from the following companies: Assured Guaranty Municipal Corp. (AGM), Assured Guaranty Corp. (AGC), Municipal Assurance Corp. (MAC) and Assured Guaranty (Europe) Ltd. (AGE). It also conducts business through Assured Guaranty Re Ltd. (AG Re), a Bermuda-based reinsurer. The following is a description of the company's principal subsidiaries: Assured Guaranty Municipal Corp.: AGM provides financial guaranty insurance on debt obligations issued in the U.S. public finance and global infrastructure markets. Municipal Assurance Corp.: MAC insures only U.S. public finance risk, focusing on investment grade obligations in select sectors of the municipal market. Assured Guaranty (Europe) Ltd.: AGE issues financial guarantees in both the international public finance and structured finance markets and is the primary entity from which the company writes business in the European Economic Area. Assured Guaranty Corp.: AGC is the financial guaranty insurer providing insurance on debt obligations in the global structured finance market. It also guarantees obligations in the U.S. public finance and international infrastructure markets. Assured Guaranty Re Ltd.: AG Re and AGRO underwrite financial guaranty reinsurance. They write business as reinsurers of third-party primary insurers and of certain affiliated companies. Financial Guaranty Portfolio The company insures obligations issued in the U.S., although it also has guaranteed securities issued in Europe, Australia and other international markets. Financial guaranty insurance provides an unconditional and irrevocable guaranty that protects the holder of a debt instrument or other monetary obligation against non-payment of scheduled principal and interest payments when due. As an alternative to traditional financial guaranty insurance, the company also has provided credit protection relating to a particular security or obligor through a credit derivative contract, such as a credit default swap (CDS). The company also offers credit protection through reinsurance. The company's financial guaranty direct and assumed businesses provide credit enhancement, on public finance, infrastructure and structured finance obligations. U.S. Public Finance Obligations: The company insures and reinsures different types of U.S. public finance obligations, including the following: General Obligation Bonds are full faith and credit bonds that are issued by states, their political subdivisions and other municipal issuers, and are supported by the general obligation of the issuer to pay from available funds, and by a pledge of the issuer to levy ad valorem taxes in an amount sufficient to provide for the full payment of the bonds. Tax-Backed Bonds are obligations that are supported by the issuer from specific and discrete sources of taxation. They include tax-backed revenue bonds, general fund obligations and lease revenue bonds. Bonds in this category also include moral obligations of municipalities or governmental authorities. Municipal Utility Bonds are obligations of all forms of municipal utilities, including electric, water and sewer utilities and resource recovery revenue bonds. These utilities are organized in various forms, including municipa

 

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Valuation AGO Industry Range
Price/Earnings 4.3x
Price/Sales 2.1x
Price/Book 0.8x
Price/Cash Flow 4.1x
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