other material
confidence high
sentiment negative
materiality 0.25
Assured Guaranty Re 2022 net income falls to $51.8M; equity down on investment losses
ASSURED GUARANTY LTD
- Net income of $51.8M in 2022 vs $121.3M in 2021, a 57% decline.
- Total revenues decreased to $99.7M from $140.2M, driven by lower net earned premiums and FX losses.
- Shareholder's equity dropped to $837.7M from $944.8M; other comprehensive loss of $158.8M due to interest rate increases.
- Loss & loss adjustment expense went from a benefit of $28.4M to an expense of $3.0M.