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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Net earned premiums $ 102 $ 121 $ 205 $ 224
Net investment income 68 78 138 158
Asset management fees 21 20 45 43
Net realized investment gains (losses) 4 4 1 (1)
Net change in fair value of credit derivatives (33) 100 (52) 23
Fair value gains (losses) on committed capital securities (6) (25) (25) 23
Fair value gains (losses) on consolidated investment vehicles 21 31 37 19
Foreign exchange gains (losses) on remeasurement 5 2 5 (60)
Commutation gain (losses) 0 38 0 38
Other income (loss) 14 3 19 1
Total revenues 196 372 373 468
Expenses        
Loss and loss adjustment expenses (16) 37 14 57
Interest expense 23 21 44 43
Amortization of deferred acquisition costs 4 4 7 7
Employee compensation and benefit expenses 54 46 114 110
Other operating expenses 40 42 97 87
Total expenses 105 150 276 304
Income (loss) before income taxes and equity in earnings of investees 91 222 97 164
Equity in earnings of investees 34 0 43 (4)
Income (loss) before income taxes 125 222 140 160
Less: Provision (benefit) for income taxes 23 34 23 30
Net income (loss) 102 188 117 130
Less: Noncontrolling interests 4 5 8 2
Net income (loss) attributable to Assured Guaranty Ltd. $ 98 $ 183 $ 109 $ 128
Earnings per share:        
Basic (in dollars per share) $ 1.31 $ 2.11 $ 1.44 $ 1.43
Diluted (in dollars per share) $ 1.29 $ 2.10 $ 1.42 $ 1.42