Donald Kramer, chairman and director of Assured Guaranty Ltd. will step down from those positions when his term expires in May.

Expectations are that former ACE Limited CEO Walter Scott will take up the chairmanship, with the AGL press statement saying its nominating and governance committee would recommend him to the post.

Assured Guaranty was formed when ACE Limited spun off its financial guaranty arm in 2003. Like Mr. Scott, Mr. Kramer has a long history with ACE Limited.

Mr. Kramer has served as executive, office of the president and CEO for ACE Limited since May 2004. Previously he served as ACE Limited?s vice-chairman from the time of ACE?s acquisition of Tempest Re in 1996; a company Mr. Kramer founded.

Walter Scott currently serves as chairman and director of AGL?s compensation committee.

He was president, chairman and CEO of ACE Limited from 1989 to 1994; seeing ACE through significant moments in its history, most notably the initial public offering of ACE Limited shares in 1993 and the acquisition of Corporate Officers & Directors Assurance Ltd. (CODA).

Dominic Frederico, Assured Guaranty?s CEO said: ?Don is a premier insurance and financial services executive and we thank him for his service and dedication as chairman through Assured Guaranty?s IPO and first year as a publicly traded company.?

The news that Mr. Kramer was stepping down follows a recent announcement from ACE that Walter Scott and Dominic Frederico ? both ACE directors ? would not seek re-election when their current terms end in May.

Mr. Frederico was formerly a vice-chairman of ACE but left the company at the time of the spin off.

Assured Guaranty Ltd. is a Bermuda-based holding company. Its operating subsidiaries provide credit enhancement products to the US and international public finance, structured finance and mortgage markets.