保证担保 2026年季度报告

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549____________________________________________________________________________ FORM 10-Q ☒QUARTERLY REPORT UNDER SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the Quarterly Period Ended March 31, 2026 or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition Period fromtoCommission File No.001-32141 ASSURED GUARANTYLTD.(Exact name of registrant as specified in its charter) Bermuda 30 Woodbourne AvenueHamilton HM 08, Bermuda(Address of principal executive offices)(441)279-5700(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submitsuch files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company oran emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule12b-2 of the Exchange Act. ☒Acceleratedfiler☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ The number of registrant’s Common Shares ($0.01 par value) outstanding as of May6, 2026 was 44,282,464 (includes 23,312 unvested restrictedshares). ASSURED GUARANTYLTD.INDEX TO FORM10-Q and 2025Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Three Months EndedMarch 31, 2026 and 2025Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) for the Three Months Ended March31, 2026 and 2025Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2026and 2025Notes to Condensed Consolidated Financial Statements (Unaudited)1. Business and Basis of Presentation2. Assured Life ReAcquisition3. Segment Information4. Outstanding Exposure5. Expected Loss to be Paid (Recovered)6. Contracts Accounted for as Financial Guaranty Insurance7. Annuity Reinsurance8. Derivatives9. Investments10. Variable Interest Entities11. Fair Value Measurement12. Income Taxes13. Contingencies14. Shareholders’ Equity15. Earnings Per ShareItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsForward Looking StatementsAvailable InformationOverviewBusinessFinancial Strength RatingsEconomic EnvironmentKey Business StrategiesExecutive SummaryFinancial Performance of Assured GuarantyOther MattersResults of OperationsCritical Accounting EstimatesResults of Operations by SegmentFinancial Guaranty Segment ResultsAnnuity Reinsurance Segment ResultsAsset Management Segment ResultsCorporate Division ResultsOtherReconciliation to GAAPNon-GAAP Financial MeasuresInsured PortfolioLiquidity and Capital ResourcesAGL and its U.S. Holding CompaniesInsurance SubsidiariesInvestment PortfolioLease ObligationsFinancial Guaranty Variable Interest Entities and Consolidated Investment VehiclesCondensed Consolidated Cash Flow SummaryItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and ProceduresPART IIOther InformationItem1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem5.Other Matters Assured GuarantyLtd. Condensed Consolidated Balance Sheets (Unaudited) (dollars in millions except share data) Assured GuarantyLtd. Condensed Consolidated Statements of Operations (Unaudited) (dollars in millions except share data) Assured GuarantyLtd. Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (in millions) Assured GuarantyLtd. Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (dollars in millions, except share data) Assured GuarantyLtd. Condensed Consolidated Statements of Cash Flows (Unaudited) (in millions) Three Months Ended March 31, Assured GuarantyLtd. Condensed Consolidated Statements of Cash Flows (Unaudited) - (Continued) (in millions) Assured GuarantyL