Assured Guaranty Ltd has reported net income of $103 million for the second quarter of 2025, equal to $2.08 per share.

The Bermudian-based bond insurer said shareholders’ equity per share reached a record $117.10 as of June 30. Adjusted book value per share also set a record at $176.95.

Dominic Frederico, president and chief executive, said the results marked continued growth in shareholder value. “Net income increased to $5.54 per share in the first six months of 2025, up 67 per cent year-over-year, and adjusted operating income for the first six months of 2025 was $4.21 per share, up 23 per cent year-over-year,” he said.

Gross written premiums for the quarter were $85 million, while the present value of new business production was $64 million.

The company also returned $150 million to shareholders in the second quarter, including $131 million in share repurchases and $19 million in dividends. Its board has authorised an additional $300 million for buybacks.

US municipal issuance remained strong, with the company writing 64 per cent of the total insured par sold in the first half of the year. “Our primary market par written represented 64 per cent of the total US municipal market insured par sold,” Mr Frederico said, calling it “a testament to the strength of our value proposition".

A $250 million stock redemption by its US insurance subsidiary was approved in July.