Assured Guaranty Ltd. last night reported a third-quarter net loss of $63.3 million, compared to a net loss of $115 million in the same quarter last year.

Assured posted an operating income of $26 million, or $0.28 per diluted share, which excludes after-tax losses on investments and after-tax unrealized losses on credit derivatives. Net operating income fell from $48.2 million in the third quarter of 2007, largely due to the $82.5 million pre-tax loss and loss adjustments it took related mostly to U.S. residential mortgage-backed securities exposures.

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