Stock ago a value buy in the worlds best industry a redhot industry serves up a winning play for investors by, street authority mar, 2017, 6. Get the latest full company report for assured guaranty ltd. Nov 07, 2019 for example, assured guaranty s calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium. Radian completes sale of radian asset to assured guaranty. This is now the 3rd acquisition ago has made of another bond insurance company. Assured guaranty at 45% of adjusted book value is too good to. The initial impact of the acquisition will be reflected in assured guarantys first quarter 2017 financial statements. May 07, 2020 management believes that adjusted book value is a useful measure because it enables an evaluation of the companys inforce premiums and revenues net of expected losses. During the past 3 years, the average book value per share growth rate was 9. In depth view into assured guaranty price to book value including historical data from 2004, charts, stats and industry comps. Ago agl and, together with its subsidiaries, assured guaranty today is filing a current report on form 8k. Management believes that adjusted book value is a useful measure because it enables an evaluation of the companys inforce premiums and revenues net of expected losses. Adjusted book value is adjusted operating shareholders equity, as defined above, further adjusted for the following. If over the medium term there is an industrywide reduction in the share price discount of adjusted book value generally for monolines, then this pairs trade will lose money.
For example, assured guarantys calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future. Assured guaranty ltd ago q4 2019 earnings call transcript. The transaction is expected to increase agcs shareholders equity and statutory capital, and to be accretive to assured guarantys operating shareholders equity 1 and adjusted book value. Assured guarantys book value per share for the quarter that ended in dec.
The others, which were fsa and radian asset, have been very successful thus far. Assured guaranty 2019 annual report annual reports. Mar 27, 2020 in depth view into assured guaranty price to book value including historical data from 2004, charts, stats and industry comps. Briefassured guaranty to acquire mbia uk insurance limited. Oct 18, 2011 hamilton, bermudabusiness wireassured guaranty ltd. Assured guaranty at 45% of adjusted book value is too good. Briefassured guaranty q1 adjusted operating earnings per. Assured guaranty s book value per share for the quarter that ended in dec. Adjusted book value financial definition of adjusted book value. Today, assured guaranty announced its acquisition of fellow bond insurer cifg. For example, assured guaranty s calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium earnings and statements regarding its capital position and demand for its insurance and other forwardlooking statements could be affected by reduction in. For example, assured guarantys calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium earnings. During the past 12 months, assured guaranty s average book value per share growth rate was 4.
While this acquisition is a bit smaller, it looks very safe and should add a nice. Value investors club assured guaranty ltdmbia pairs trade. Hamilton, bermudabusiness wireassured guaranty ltd. For example, assured guarantys calculations of adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium earnings and. Sep 29, 2016 briefassured guaranty to acquire mbia uk insurance limited.
Assured guaranty announces restatement related to financial. The initial impact of the acquisition will be reflected in. Answers to questions about agcs acquisition of cifg assurance. Jul 05, 2016 the transaction is expected to increase agcs shareholders equity and statutory capital, and to be accretive to assured guarantys operating shareholders equity 1 and adjusted book value 1 at the acquisition date. Value investors club assured guaranty ltdmbia pairs. Nov 05, 2015 many investors, analysts and financial news reporters use adjusted book value to evaluate assured guaranty ltd. Feb 21, 2020 assured guaranty is the leading bond insurance company in the united states. Feb 22, 2018 for example, assured guaranty s calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium. May 04, 2016 many investors, analysts and financial news reporters use adjusted book value to evaluate assured guaranty ltd. Assured guarantys massive discount to intrinsic value cannot.
Gaap highlights net loss attributable to assured guaranty ltd. Assured guaranty is the leading bond insurance company in the united states. Reports results for second quarter 2018 shareholders equity per share, nongaap operating shareholders equity 1 per share and nongaap adjusted book value 1 per share. Ago agl and, together with its consolidated entities, assured guaranty or the company announced today its financial results for the threemonth period ended march 31, 2020 first quarter 2020.
During the past 12 months, assured guarantys average book value per share growth rate was 4. Assured guaranty to acquire mbia uk insurance limited agc will deliver to mbia all of notes issued in zohar ii 20051 transaction that agc holds. Ago agl and, together with its consolidated entities, assured guaranty or the company. Assured guaranty to acquire mbia uk insurance limited agc will deliver to mbia all of notes issued in zohar ii 20051 transaction that agc. Shareholders equity attributable to assured guaranty book value. Assured said it once again set records for shareholders equity per share, nongeneral accepted accounting principles operating shareholders equity per share and nongaap adjusted book value per. For example, assured guaranty s calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium. In depth view into assured guaranty book value per share explanation, calculation. The acquisition is expected to be accretive to assured guarantys operating earnings per share, operating shareholders equity and adjusted book value. Larger transactions along with its other competitive advantages allowed the company to maintain its guaranty industry leading position with a 58% share of the primary and municipal bond insurance market.
Nov 21, 2019 larger transactions along with its other competitive advantages allowed the company to maintain its guaranty industry leading position with a 58% share of the primary and municipal bond insurance market. Assured guaranty reports strong start to year bond buyer. Assured guaranty continued to be the leading financial guarantor in 2018, successfully. The acquisition is expected to be accretive to assured guaranty s operating earnings per share, operating shareholders equity and adjusted book value. Assured guaranty ltd bermuda ago q4 2018 earnings conference call transcript. Many investors, analysts and financial news reporters use adjusted book value to evaluate assured guaranty ltd. Adjusted operating shareholders equity and adjusted book value. Mbia uk changed its name to assured guaranty london ltd. The principal risk to this thesis is that mbis current share price is at a greater discount to adjusted book value than agos current share price. For example, assured guaranty s calculations of adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium earnings and. For example, assured guarantys calculations of nongaap adjusted book value, pvp, net present value of estimated future installment premiums in force and total estimated net future premium.
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