Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Net earned premiums	$ 103	$ 103
Net investment income	70	80
Asset management fees	24	23
Net realized investment gains (losses)	(3)	(5)
Net change in fair value of credit derivatives	(19)	(77)
Fair value gains (losses) on committed capital securities	(19)	48
Fair value gains (losses) on financial guaranty variable interest entities	5	(9)
Fair value gains (losses) on consolidated investment vehicles	16	(12)
Foreign exchange gains (losses) on remeasurement	0	(62)
Other income (loss)	0	7
Total revenues	177	96
Expenses
Loss and loss adjustment expenses	30	20
Interest expense	21	22
Amortization of deferred acquisition costs	3	3
Employee compensation and benefit expenses	60	64
Other operating expenses	57	45
Total expenses	171	154
Income (loss) before income taxes and equity in earnings of investees	6	(58)
Equity in earnings of investees	9	(4)
Income (loss) before income taxes	15	(62)
Provision (benefit) for income taxes	0	(4)
Net income (loss)	15	(58)
Less: Noncontrolling interests	4	(3)
Net income (loss) attributable to Assured Guaranty Ltd.	$ 11	$ (55)
Earnings per share:
Basic (in dollars per share)	$ 0.14	$ (0.59)
Diluted (in dollars per share)	$ 0.14	$ (0.59)