Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Investments:
Fixed-maturity securities, available-for-sale	$ 6,369	$ 6,369
Fixed-maturity securities, trading, at fair value	124	147
Short-term investments, at fair value	903	1,221
Other invested assets (includes $3 and $4, at fair value)	1,091	926
Total investments	8,487	8,663
Cash	388	121
Premiums receivable, net of commissions payable, net of allowance for credit losses of $3 and $–	1,572	1,551
Deferred acquisition costs	192	176
Salvage and subrogation recoverable	449	396
Financial guaranty variable interest entities’ assets (includes $172 and $147, at fair value)	212	147
Assets of consolidated investment vehicles (includes $167 and $99, at fair value)	175	101
Other assets (includes $174 and $131, at fair value)	701	746
Total assets	12,176	11,901
Liabilities
Unearned premium reserve	3,625	3,719
Loss and loss adjustment expense reserve	309	268
Long-term debt	1,704	1,699
Financial guaranty variable interest entities’ liabilities (includes $197 and $164, at fair value, $182 and $155 with recourse, $16 and $9 without recourse)	198	164
Other liabilities (includes $21000000 and $34000000 at fair value)	551	498
Total liabilities	6,387	6,348
Commitments and contingencies (Notes 3, 4, 7, 17)
Shareholders’ equity
Common shares ($0.01 par value, 500,000,000 shares authorized; 45,184,791 and 50,505,320 shares issued and outstanding)	0	1
Retained earnings	5,830	5,878
Accumulated other comprehensive income (loss), net of tax of $(39) and $(75)	(168)	(385)
Deferred equity compensation	1	1
Total shareholders’ equity attributable to Assured Guaranty Ltd.	5,663	5,495
Non-redeemable noncontrolling interest (Note 8)	126	58
Total shareholders’ equity	5,789	5,553
Total liabilities and shareholders’ equity	$ 12,176	$ 11,901