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Assured Guaranty Executive Compensation (FY25)

AGO · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Dominic Frederico
Latest say-on-pay support
=
May 1, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 21, 2026Latest filing (8-K): May 5, 2026
14 filings cited on this page
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341 figures on this page: 326 cited to the filing that reported them, 15 calculated from figures it prints. See the citations

More on Assured Guaranty

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Dominic Frederico: $14,933,252 → $13,841,716 (7.3% lower)
CEO pay ratio: 47.5:1 → 42.1:1 (11.4% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Assured Guaranty's chief executive and what were they paid?
Dominic Frederico, President and Chief Executive Officer, received $13,841,716 in total compensation for fiscal 2025. Frederico's total was 7.3% lower than the $14,933,252 reported for fiscal 2024.
What was Assured Guaranty's say-on-pay result?
The say-on-pay proposal drew 91.9% support at the meeting held May 1, 2026 for fiscal 2025.
Which companies are in Assured Guaranty's peer group?
The disclosed peer group names Affiliated Managers Group, Inc., AllianceBernstein Holding L.P., Assurant, Inc., AXIS Capital Holdings Limited and Essent Group, Ltd., among others.
What is Assured Guaranty's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 42.1:1, against median employee compensation of $328,498.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dominic Frederico
President and Chief Executive Officer
◇—◇—◇—◇◇
Robert Bailenson
Chief Financial Officer
◇—◇—◇—◇◇
Ling Chow
General Counsel
◇—◇—◇—◇◇
David Buzen
Chief Investment Officer and Head of Asset Management
◇—◇—◇—◇◇
Stephen Donnarumma
Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dominic Frederico
President and Chief Executive Officer
◇—◇—◇—◇◇
Robert Bailenson
Chief Operating Officer
◇—◇—◇—◇◇
Ling Chow
General Counsel
◇—◇—◇—◇◇
Stephen Donnarumma
Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dominic Frederico
President and Chief Executive Officer
◇—◇—◇—◇◇
Robert Bailenson
Chief Operating Officer
◇—◇—◇—◇◇
Ling Chow
General Counsel
◇—◇—◇—◇◇
Benjamin Rosenblum
Chief Financial Officer
◇—◇—◇—◇◇
Stephen Donnarumma
Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dominic Frederico
President and Chief Executive Officer
◇—◇—◇—◇◇
Robert Bailenson
Chief Operating Officer
◇—◇—◇—◇◇
Ling Chow
General Counsel
◇—◇—◇—◇◇
Benjamin Rosenblum
Chief Financial Officer
◇—◇—◇—◇◇
Stephen Donnarumma
Chief Credit Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Benjamin G. RosenblumPSU—◇◇—◇—◇
Benjamin G. RosenblumRSU———◇——◇
Benjamin G. RosenblumPSU—◇◇—◇—◇
Dominic J. FredericoPSU—◇◇—◇—◇
Dominic J. FredericoPSU—◇◇—◇—◇
Dominic J. FredericoRSU———◇——◇
Ling ChowPSU—◇◇—◇—◇
Ling ChowRSU———◇——◇
Ling ChowPSU—◇◇—◇—◇
Ling ChowRSU———◇——◇
Robert A. BailensonPSU—◇◇—◇—◇
Robert A. BailensonRSU———◇——◇
Robert A. BailensonRSU———◇——◇
Robert A. BailensonPSU—◇◇—◇—◇
Stephen DonnarummaPSU—◇◇—◇—◇
Stephen DonnarummaRSU———◇——◇
Stephen DonnarummaPSU—◇◇—◇—◇
Fiscal 2022, 2023 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Stephen DonnarummaRSU◇◇——
PSU◇=——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Dominic FredericoPSU◇=——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Ling ChowRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇=——
RSU◇◇——
RSU◇◇——
Benjamin RosenblumRSU◇◇——
PSU◇=——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Robert BailensonRSU◇◇——
PSU◇=——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Benjamin Rosenblum
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Ling Chow
General Counsel · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Stephen Donnarumma
Chief Credit Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Francisco L. Borges
Board chair
◇◇———◇◇
Bonnie L. Howard
◇◇———◇◇
Lorin P.T. Radtke
◇◇———◇◇
Alan J. Kreczko
◇◇———◇◇
Thomas W. Jones
◇◇———◇◇
Antonio Ursano Jr
◇◇———◇◇
Courtney C. Shea
◇◇———◇◇
Mark C. Batten
◇◇————◇
Yukiko Omura
◇◇————◇
Dominic J. Frederico served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Stock ownership guideline: A director is not permitted to dispose of any Common Shares received as compensation from our Company until the director reaches the share ownership guideline.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Affiliated Managers Group, Inc. AMG
  • AllianceBernstein Holding L.P. AB
  • Assurant, Inc. AIZ
  • AXIS Capital Holdings Limited AXS
  • Essent Group, Ltd. ESNT
  • Everest Re Group, Ltd. EG
  • Federated Hermes, Inc. FHI
  • First American Financial Corporation FAF
  • Janus Henderson Group plc JHG
  • MGIC Investment Corporation MTG
  • Radian Group Inc. RDN
  • RenaissanceRe Holdings Ltd. RNR
  • Selective Insurance Group, Inc. SIGI
  • SiriusPoint Ltd. SPNT
  • The Hanover Insurance Group, Inc. THG
  • Virtus Investment Partners, Inc. VRTS
  • White Mountains Insurance Group, Ltd. WTM

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 1, 2026=◇◇◇
2024May 2, 2025=◇◇◇
2023May 2, 2024=◇◇◇
2021May 4, 2022=◇◇◇
2020May 5, 2021=◇◇◇
2019May 6, 2020=◇◇◇
2018May 8, 2019=◇◇◇
2017May 2, 2018=◇◇◇
2016May 3, 2017=◇◇◇
2015May 4, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Dominic Frederico (President and Chief Executive Officer), FY2025 total compensation $13,841,716 (base salary $1,250,000) [exec_comp, SEC accession 0001273813-26-000028, filed 2026-03-18]

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What this page does not include

Everything above is a fact Assured Guaranty disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Assured Guaranty sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
341 figures on this page: 326 cited to the filing that reported them, 15 calculated from figures it prints.
326 cited to the filing
15 calculated from the filing

Documents cited

  1. 0001273813-26-000058
  2. 0001273813-26-000028
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · Grants of Plan-Based Awards · and 2 more sections
  3. 0001273813-25-000029
  4. 0001273813-25-000020
    SUMMARY COMPENSATION TABLE
  5. 0001273813-24-000026
  6. 0001273813-24-000015
    SUMMARY COMPENSATION TABLE
  7. 0001273813-23-000013
    Summary Compensation Table _____________
  8. 0001273813-22-000029
  9. 0001273813-21-000017
  10. 0001273813-20-000020
  11. 0001273813-19-000027
  12. 0001273813-18-000022
  13. 0001273813-17-000023
  14. 0001273813-16-000071
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Assured Guaranty executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/AGO (accessed 2026).
Short form: data: Velarion

The paid brief for Assured Guaranty

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Insurance rankings

Chief executive pay — InsuranceCEO pay ratio — InsuranceSay-on-pay support — Insurance

Peers Assured Guaranty discloses

The companies named in AGO's own disclosed peer group.

Affiliated Managers Group, Inc.AllianceBernstein Holding L.P.Assurant, Inc.AXIS Capital Holdings LimitedEssent Group, Ltd.Everest Re Group, Ltd.Federated Hermes, Inc.First American Financial CorporationJanus Henderson Group plcMGIC Investment CorporationRadian Group Inc.RenaissanceRe Holdings Ltd.Selective Insurance Group, Inc.SiriusPoint Ltd.The Hanover Insurance Group, Inc.Virtus Investment Partners, Inc.White Mountains Insurance Group, Ltd.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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