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ASSURED GUARANTY GAAP Highlights • Assured Guaranty Ltd. Reports Results for First Quarter 2021 Net income attributable to Assured Guaranty Ltd. was $ 11 million , or $ 0.14 per share , ( ¹ ) for first quarter 2021. This includes a $ 13 million after - tax write - off of an intangible asset attributable to the insurance licenses of Municipal Assurance Corp. ( MAC ) as a result of an internal organizational restructuring . Shareholders ' equity attributable to Assured Guaranty Ltd. per share was $ 84.67 as of March 31 , 2021 , the second highest ever reported . Non - GAAP Highlights Adjusted operating income ( 2 ) was $ 43 million , or $ 0.55 per share , for first quarter 2021. This also includes a $ 13 million after - tax write - off of the MAC insurance licenses . Adjusted operating shareholders ' equity ( 2 ) per share and adjusted book value ( ABV ) ( ②2 ) per share reached record highs of $ 79.44 and $ 116.56 , respectively , as of March 31 , 2021 . Return of Capital to Shareholders • First quarter 2021 capital returned to shareholders was $ 95 million , including share repurchases of $ 77 million , or 2.0 million shares , and dividends of $ 18 million . Insurance Segment • Adjusted operating income was $ 79 million for first quarter 2021 . Gross written premiums ( GWP ) were $ 87 million for first quarter 2021 , the highest first - quarter result in four years . Present value of new business production ( PVP ) ( ² ) was $ 86 million for first quarter 2021 . Asset Management Segment Adjusted operating loss was $ 7 million for first quarter 2021 . • Gross inflows were $ 1.0 billion for first quarter 2021 . Hamilton , Bermuda , May 6 , 2021 -- Assured Guaranty Ltd. ( NYSE : AGO ) ( AGL and , together with its consolidated entities , Assured Guaranty or the Company ) announced today its financial results for the three - month period ended March 31 , 2021 ( first quarter 2021 ) . Commenting on first quarter activity , Dominic Frederico , President and CEO said : “ Assured Guaranty has now reached important new consensual settlement agreements relating to Puerto Rico that , combined with a previous agreement , will resolve over 93 % of our net par outstanding of Puerto Rico exposures , once court - approved and implemented . Of our additional $ 241 million of net par , almost all relates to credits that have not missed any principal or interest payments . " Additionally , " he continued , “ in a quarter when our important shareholder value measures of adjusted operating shareholders ' equity per share and adjusted book value per share again achieved new highs , our new business production generated $ 86 million of PVP , more than in all but one first quarter since 2009 , driven by very strong U.S. public finance production . The $ 5.5 billion of municipal new issue par sold with our insurance was the most we insured in any first quarter since 2010 , and our 65 % share of insured municipal par sold was better than our market share in any quarter since 2014 . ( 1 ) All per share information for net income and adjusted operating income is based on diluted shares . ( 2 ) Please see " Explanation of Non - GAAP Financial Measures . " 1