Assured Guaranty and Syncora Complete Reinsurance Transaction

Assured Guaranty Is Paid $360 Million in Cash Plus Assigned Future Installment Premiums

HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (NYSE: AGO) (together with its subsidiaries, Assured Guaranty), announced the completion of the previously disclosed reinsurance transaction with Syncora Guarantee Inc. (SGI), a wholly owned subsidiary of Syncora Holdings Ltd. (SHL). Under the terms of the transaction, Assured Guaranty Corp. (AGC) is reinsuring, generally on a 100% quota share basis, SGI-insured financial guaranty insurance policies. The transaction also included the commutation of a book of business previously ceded to SGI by Assured Guaranty Municipal Corp. (AGM).

The transaction totaled approximately $13 billion in net par amount. As consideration for the transaction, AGC received approximately $360 million in cash plus assigned future installment premiums estimated to total $59 million on a present value basis. Included in those amounts are GAAP expected losses to be paid of approximately $130 million for RMBS transactions.

Additionally, on behalf of SGI, AGC is providing administrative services that include claims processing, surveillance, risk management services and certain other functions for the reinsured portfolio.

"We are pleased to have brought another legacy bond insurance portfolio onto the Assured Guaranty balance sheet to generate additional future premium revenue," commented Dominic Frederico, President and Chief Executive Officer of Assured Guaranty. "Like our previous acquisitions of financial guarantors or of their insured portfolios, this transaction helps to strengthen Assured Guaranty in terms of both financial strength and profitability."

The reinsured portfolio consists predominantly of public finance and infrastructure obligations that meet AGC's new business underwriting criteria, and it includes no Puerto Rico exposure. AGC is contractually obligated to administer transactions and pay claims on SGI’s behalf, but AGC has no direct obligation to bondholders. As a result, ratings of the reinsured transactions will continue to reflect only SGI’s financial strength.

More information about the transaction can be found on assuredguaranty.com/syncora-policies

Cautionary Statement Regarding Forward-Looking Statements:

Any forward-looking statements made in this press release reflect Assured Guaranty’s current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. These risks and uncertainties include, but are not limited to credit deterioration of reinsured policies, administrative errors with respect to claim payments, and other risks and uncertainties that have not been identified at this time, management’s response to these factors, and other risk factors identified in Assured Guaranty’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made as of June 1, 2018. Assured Guaranty undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Assured Guaranty Ltd., is a Bermuda-based holding company that provides, through AGC and its other operating subsidiaries, insurance products to the U.S. and international public finance, infrastructure and structured finance markets. More information can be found at:AssuredGuaranty.com.

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Assured Guaranty Ltd.

Robert Tucker, 212-339-0861

Senior Managing Director, Investor Relations and Corporate Communications

rtucker@agltd.com

or

Ashweeta Durani, 212-408-6042

Vice President, Corporate Communications

adurani@agltd.com

Source: Assured Guaranty Ltd.