Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Assured Guaranty Ltd.    AGO   BMG0585R1060

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Assured Guaranty Posts 1Q Loss On Derivatives Impact

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/11/2012 | 12:42am CET

Assured Guaranty Ltd. (>> Assured Guaranty Ltd.) swung to a first-quarter loss as derivatives losses widened and income from premiums slid, though the insurer's operating earnings still topped expectations.

The company separately disclosed the resignation of director Donald Layton, the former chief executive of online brokerage E*Trade Financial Corp. (ETFC) who is slated to move to the helm of mortgage giant Freddie Mac (FMCC). American International Group Inc. (>> American International Group, Inc.) on Thursday said Layton is also stepping down from its board.

Assured Guaranty sells insurance on a variety of debt obligations, including variable-interest entities that allow financial firms to keep assets such as mortgage-backed securities off their balance sheets. Losses tied to such entities had mostly eased in recent quarters, bolstering the company's bottom line.

Earnings suffered in the latest quarter, however, as the net value of the derivatives declined by $690.6 million, compared with a $236.2 million loss a year earlier.

Overall, the company reported a loss of $483 million, or $2.65 a share, compared with a year-earlier profit of $139.3 million, or 74 cents a share. Operating income, which excludes investment gains and losses, dropped to 38 cents a share from $1.32. Analysts polled by Thomson Reuters were looking for 36 cents.

Assured's reported revenue was negative $357.4 million due to the derivatives impact, compared with $278.9 million of revenue a year earlier. Net premiums earned fell 24% to $193.7 million.

Shares were off 1.4% at $12.90 after hours. The stock had declined 18% over the past year through Thursday's close.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; andrew.fitzgerald@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ASSURED GUARANTY LTD.
01:24p ASSURED GUARANTY LTD. : Raises Quarterly Dividend by Nearly 10% to $0.1425 per C..
02/20ASSURED GUARANTY LTD. : annual earnings release
02/09 ASSURED GUARANTY LTD. : to Report Full Year and Fourth Quarter 2016 Financial Re..
02/08 The Assured Guaranty Ltd. Shares Sold by Canada Pension Plan Investment Board
01/13 ASSURED GUARANTY : Completes Acquisition of MBIA UK Insurance Limited
01/13 ASSURED GUARANTY LTD : Other Events (form 8-K)
01/13 ASSURED GUARANTY : Requests that Moody’s No Longer Rate AGC
01/10 ASSURED GUARANTY : Completes Acquisition of MBIA UK Insurance Limited
01/10 ASSURED GUARANTY LTD. (NYSE : AGO) Files An 8-K Departure of Directors or Certai..
01/09 ASSURED GUARANTY LTD : Change in Directors or Principal Officers (form 8-K)
More news
Sector news : Property & Casualty Insurance - NEC
10:50a RSA INSURANCE : Ex-RSA Ireland finance head fined, banned over accounting scanda..
01:45a SUNCORP GROUP (ASX : SUN) talks 1H17 results and outlook
02/21DJINSURANCE AUSTRALIA : First-half Profit Slips
02/21DJTower says Suncorp Plans Rival Bid to Fairfax Financial Deal
02/21DJBERKSHIRE HATHAWAY : Dead Deal Is Clue to Buffett Strategy -- WSJ
More sector news : Property & Casualty Insurance - NEC
News from SeekingAlpha
07:28a Assured Guaranty declares $0.1425 dividend
02/13 DIVIDEND CHALLENGERS (AND NEAR-CHALL : 87 Increases Expected By April 30
01/27 Buy the dip in MBIA - MKM Partners
01/25 Syncora Offers Upside With 3 Major Catalysts
01/20 DIVIDEND CHALLENGERS (AND NEAR-CHALL : 124 Increases Expected By March 31
Advertisement
Financials ($)
Sales 2016 1 498 M
EBIT 2016 479 M
Net income 2016 627 M
Debt 2016 -
Yield 2016 1,26%
P/E ratio 2016 7,15
P/E ratio 2017 12,75
Capi. / Sales 2016 3,60x
Capi. / Sales 2017 5,33x
Capitalization 5 392 M
More Financials
Chart ASSURED GUARANTY LTD.
Duration : Period :
Assured Guaranty Ltd. Technical Analysis Chart | AGO | BMG0585R1060 | 4-Traders
Full-screen chart
Technical analysis trends ASSURED GUARANTY ...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 43,3 $
Spread / Average Target 4,6%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Dominic John Frederico Deputy Chairman, President & CEO
Francisco Lopes Borges Chairman
Robert Adam Bailenson Chief Financial Officer
Kirk Edmunds Chief Information Officer
G. Lawrence Buhl Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ASSURED GUARANTY LTD.9.50%5 392
BERKSHIRE HATHAWAY INC..3.92%415 693
TOKIO MARINE HOLDINGS ..6.44%34 326
TRAVELERS COMPANIES IN..-0.71%33 996
ALLSTATE CORP8.77%29 437
SAMPO OYJ2.32%25 780
More Results