Assured Guaranty reports Q2 adjusted EPS 60c, consensus $1.04

Reports adjusted operating shareholders’ equity per share and adjusted book value per share of $95.64 and $144.21, respectively, as of June 30. The company said, “New business production for the second quarter and first half remained strong, consistent with recent years’ results, and was diversified across U.S public finance, international public finance and global structured finance. First half GWP and PVP were $181 million and $203 million, respectively. First half GWP is the fifth largest first half GWP since 2009, while first half PVP is the second largest amount of first half PVP and the second time that first half PVP exceeded $200 million since 2009. For U.S. public finance, our share of the first half insured primary municipal bond market was 63%, up from 56% in the first half of 2022, and total insured market penetration increased to 9.0%. “Also, in July 2023, we completed our transaction with Sound Point Capital Management, LP involving AssuredIM, taking a 30% interest in the new combined entity and, separately, we sold our entire equity interest in Assured Healthcare Partners, and will remain a strategic investor in certain AHP-managed funds; both transactions further our strategic objectives in the asset management sector and alternative investments.”