UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) — May 6, 2010

 

 

ASSURED GUARANTY LTD.

(Exact name of registrant as specified in its charter)

 

 

 

Bermuda

 

001-32141

 

98-0429991

(State or other jurisdiction of incorporation or organization)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

 

Assured Guaranty Ltd.

30 Woodbourne Avenue

Hamilton HM 08 Bermuda

(Address of principal executive offices)

 

Registrant’s telephone number, including area code: (441) 279-5700

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 2.02                                            Results of Operations and Financial Condition

 

On May 10, 2010, Assured Guaranty Ltd. (“AGL” or the “Company”) issued a press release reporting its first quarter 2010 results and the availability of its March 31, 2010 financial supplement. The press release and the financial supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference herein.

 

Item 5.03                                            Amendment to the Articles of Incorporation or Bylaws; Change in Fiscal Year

 

On May 6, 2010, the shareholders of AGL approved and adopted the First Amended and Restated Bye-laws of AGL.  The amendments reflected changes in Bermuda law as well as corporate governance amendments. The amendments are described in more detail in (i) pages 65-68 of AGL’s proxy statement dated March 24, 2010, (ii) Exhibit B to AGL’s proxy statement dated March 24, 2010, which contains the text of the First Amended and Restated Bye-laws marked to show the proposed changes from the Bye-laws prior to the amendments, and (iii) AGL’s proxy supplement dated April 27, 2010, each of which is incorporated by reference herein.

 

A copy of the First Amended and Restated Bye-laws of AGL is attached hereto as Exhibit 3.1 and is incorporated by reference herein.

 

Item 5.07                                            Submission of Matters to a vote of Security Holders

 

AGL convened its annual general meeting of shareholders on May 6, 2010 pursuant to notice duly given.  The matters voted upon at the meeting and the results of such voting are set forth below:

 

1.   Election of three Class III directors for a term expiring in 2013

 

01                 Election of Neil Baron

 

For

 

Withheld

 

Broker Non-Votes

 

119,583,982

 

32,565,967

 

13,573,331

 

 

02                 Election of G. Lawrence Buhl

 

For

 

Withheld

 

Broker Non-Votes

 

119,705,512

 

32,444,437

 

13,573,331

 

 

03                 Election of Dominic J. Frederico

 

For

 

Withheld

 

Broker Non-Votes

 

121,369,086

 

30,780,863

 

13,573,331

 

 

 

2


 

2.   Amendment and Restatement of the Company’s Bye Laws

 

2.1 Bermuda law change amendments

 

For

 

Against

 

Abstain

 

164,697,560

 

839,479

 

186,241

 

 

2.2 Corporate governance amendments

 

For

 

Against

 

Abstain

 

155,215,126

 

10,306,656

 

201,498

 

 

3.   Ratification of PricewaterhouseCoopers LLP as the Company’s Independent Auditors for year ending December 31, 2010

 

For

 

Against

 

Abstain

 

165,606,585

 

48,200

 

68,495

 

 

4.   Subsidiary Proposals

 

4.1 Authorizing AGL to vote for directors of its subsidiary, Assured Guaranty Re Ltd. (“AG Re”), for terms expiring in 2011:

 

01                 Election of Howard Albert

 

For

 

Withheld

 

Broker Non-Votes

 

140,488,872

 

11,661,077

 

13,573,331

 

 

02                 Election of Robert A. Bailenson

 

For

 

Withheld

 

Broker Non-Votes

 

140,614,595

 

11,535,354

 

13,573,331

 

 

03                 Election of Russell B. Brewer

 

For

 

Withheld

 

Broker Non-Votes

 

140,483,060

 

11,666,889

 

13,573,331

 

 

3


 

04                 Election of Gary Burnet

 

For

 

Withheld

 

Broker Non-Votes

 

140,490,178

 

11,659,771

 

13,573,331

 

 

05                 Election of Dominic J. Frederico

 

For

 

Withheld

 

Broker Non-Votes

 

139,007,009

 

13,142,940

 

13,573,331

 

 

06                 Election of Séan W. McCarthy

 

For

 

Withheld

 

Broker Non-Votes

 

140,488,131

 

11,661,818

 

13,573,331

 

 

07                 Election of James M. Michener

 

For

 

Withheld

 

Broker Non-Votes

 

140,614,512

 

11,535,437

 

13,573,331

 

 

08                 Election of Robert B. Mills

 

For

 

Withheld

 

Broker Non-Votes

 

140,614,595

 

11,535,354

 

13,573,331

 

 

09                 Election of Kevin Pearson

 

For

 

Withheld

 

Broker Non-Votes

 

140,489,441

 

11,660,508

 

13,573,331

 

 

10                 Election of Andrew Pickering

 

For

 

Withheld

 

Broker Non-Votes

 

140,188,266

 

11,661,683

 

13,573,331

 

 

4.2 Authorizing AGL to vote for the appointment of PricewaterhouseCoopers LLP (“PwC”) as independent auditors of its subsidiary, Assured Guaranty Re Ltd., for the year ending December 31, 2010:

 

For

 

Against

 

Abstain

 

165,603,511

 

51,873

 

67,896

 

 

4


 

4.3 Authorizing AGL to vote for the appointment of PwC as independent auditors of its subsidiary, Assured Guaranty Ireland Holdings Ltd., for the year ending December 31, 2010:

 

For

 

Against

 

Abstain

 

165,289,147

 

56,594

 

377,539

 

 

Item 9.01                                            Financial Statements and Exhibits.

 

(d)  Exhibits

 

Exhibit
Number

 

Description

3.1

 

First Amended and Restated Bye-laws of Assured Guaranty Ltd.

 

 

 

4.1

 

First Amended and Restated Bye-laws of Assured Guaranty Ltd. (Incorporated by reference to Exhibit 3.1)

 

 

 

99.1 

 

Assured Guaranty Ltd. Press release dated May 10, 2010 reporting first quarter 2010 results

 

 

 

99.2 

 

March 31, 2010 Financial Supplement of Assured Guaranty Ltd.

 

5


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

ASSURED GUARANTY LTD.

 

 

 

 

 

 

 

By:

/s/ James M. Michener

 

 

 

Name:

James M. Michener

 

 

Title:

General Counsel

 

 

 

 

DATE:  May 10, 2010

 

 

 

 

6


 

EXHIBIT INDEX

 

Exhibit
Number

 

Description

3.1

 

First Amended and Restated Bye-laws of Assured Guaranty Ltd.

 

 

 

4.1

 

First Amended and Restated Bye-laws of Assured Guaranty Ltd. (Incorporated by reference to Exhibit 3.1)

 

 

 

99.1 

 

Assured Guaranty Ltd. Press release dated May 10, 2010 reporting first quarter 2010 results

 

 

 

99.2 

 

March 31, 2010 Financial Supplement of Assured Guaranty Ltd.

 

7