Assured Guaranty, the biggest municipal bond insurer, reported a 30% decline in the third-quarter profit due to lower scheduled net earned premiums.

Operating income slid to $117 million, or $0.64 a share, from $166 million, or $0.85 a share, in the third quarter of 2012, Assured Guaranty said Tuesday. Operating income year-to-date rose to $475 million as of Sept. 30, from $351 million in the first nine months of 2012. The 35% increase year-to-date was bolstered by a record $260 million of operating income in the first quarter.

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