Insurance holding company Assured Guaranty has reported net income $110m, or $0.57 per share for the year 2012, compared to $773m or $4.16 per share during the same period last fiscal.
The decline in the net income was primarily due to the non-economic net unrealized fair value changes, which are expected to reverse by contract maturity.
For the year ended on 31 December 2012, its operating income stood at $535m, or $2.81 per share, against $601m, or $3.24 per share during the corresponding period earlier year.
Operating shareholders' equity per share reached at $30.05, with an increase of 5% since year-end 2011 in spite of a 6% increase in shares outstanding.
For the full year new par written as well as reassumed par touched to $36bn, compared to $17.2bn during the same period earlier fiscal year.
Assured Guaranty operates as a Bermuda-based insurance holding company that trades on the New York Stock Exchange and also manages three subsidiaries.
