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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Investments:    
Fixed-maturity securities, available-for-sale, at fair value, net of allowance for credit loss of $66 and $77 (amortized cost of $6,565 and $6,746) $ 6,284 $ 6,307
Fixed-maturity securities, trading, at fair value 163 318
Short-term investments, at fair value 1,487 1,661
Other invested assets (includes $5 and $3, at fair value) 912 829
Total investments 8,846 9,115
Cash 147 97
Premiums receivable, net of commissions payable 1,513 1,468
Deferred acquisition costs 172 161
Salvage and subrogation recoverable 412 298
Financial guaranty variable interest entities’ assets (includes $156 and $174, at fair value) 156 328
Assets of consolidated investment vehicles (includes $334 and $331, at fair value) 359 366
Other assets (includes $129 and $123, at fair value) 686 706
Total assets 12,291 12,539
Liabilities    
Unearned premium reserve 3,631 3,658
Loss and loss adjustment expense reserve 253 376
Long-term debt 1,698 1,694
Credit derivative liabilities, at fair value 39 53
Financial guaranty variable interest entities’ liabilities, at fair value (with recourse $382 and $543, without recourse $10 and $11) 392 554
Other liabilities 496 439
Total liabilities 6,509 6,774
Commitments and contingencies (Notes 3, 7 and 11)
Shareholders’ equity    
Common shares ($0.01 par value, 500,000,000 shares authorized; 51,556,750 and 56,217,305 shares issued and outstanding) 1 1
Retained earnings 5,957 6,070
Accumulated other comprehensive income (loss), net of tax of $(47) and $(67) (231) (359)
Deferred equity compensation 1 1
Total shareholders’ equity attributable to Assured Guaranty Ltd. 5,728 5,713
Nonredeemable noncontrolling interests (Note 8) 54 52
Total shareholders’ equity 5,782 5,765
Total liabilities and shareholders’ equity $ 12,291 $ 12,539