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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Investments:    
Fixed-maturity securities, available-for-sale, at fair value, net of allowance for credit loss of $79 and $65 (amortized cost of $7,044 and $7,707) $ 6,488 $ 7,119
Fixed-maturity securities, trading, at fair value 340 303
Short-term investments, at fair value 1,650 810
Other invested assets (includes $26 and $30, at fair value) 146 133
Total investments 8,624 8,365
Cash 114 107
Premiums receivable, net of commissions payable 1,417 1,298
Deferred acquisition costs 155 147
Salvage and subrogation recoverable 266 257
Financial guaranty variable interest entities’ assets (includes $411 and $413, at fair value) 414 416
Assets of consolidated investment vehicles (includes $4,978 and $5,363, at fair value) 5,055 5,493
Goodwill and other intangible assets 6 163
Assets held for sale 221 0
Other assets (includes $141 and $148, at fair value) 580 597
Total assets 16,852 16,843
Liabilities    
Unearned premium reserve 3,648 3,620
Loss and loss adjustment expense reserve 349 296
Long-term debt 1,677 1,675
Credit derivative liabilities, at fair value 58 163
Financial guaranty variable interest entities’ liabilities, at fair value (with recourse $687 and $702, without recourse $12 and $13) 699 715
Liabilities of consolidated investment vehicles (includes $4,326 and $4,431, at fair value) 4,460 4,625
Liabilities held for sale 50 0
Other liabilities 456 457
Total liabilities 11,397 11,551
Commitments and contingencies (Note 12)
Shareholders’ equity    
Common shares ($0.01 par value, 500,000,000 shares authorized; 58,850,144 and 59,013,040 shares issued and outstanding) 1 1
Retained earnings 5,732 5,577
Accumulated other comprehensive income (loss), net of tax of $(78) and $(84) (458) (515)
Deferred equity compensation 1 1
Total shareholders’ equity attributable to Assured Guaranty Ltd. 5,276 5,064
Nonredeemable noncontrolling interests (Note 8) 179 228
Total shareholders’ equity 5,455 5,292
Total liabilities and shareholders’ equity $ 16,852 $ 16,843