Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Bailenson Robert
 2. Date of Event Requiring Statement (Month/Day/Year)
05/05/2005		 3. Issuer Name and Ticker or Trading Symbol
ASSURED GUARANTY LTD [AGO]
(Last)
(First)
(Middle)
ASSURED GUARANTY LTD., 30 WOODBOURNE AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Accounting Officer
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

HAMILTON, D0 HM08		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 16,427 (1)
D
 
Common Shares 8,083
I (2)
By trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Options to Acquire Common Shares   (3) 04/27/2014 Common Shares 25,000 $ 18 D  
Options to Acquire Common Shares   (4) 02/10/2015 Common Shares 10,000 $ 18.03 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bailenson Robert
ASSURED GUARANTY LTD.
30 WOODBOURNE AVENUE
HAMILTON, D0 HM08		       Chief Accounting Officer  

Signatures

By: James M. Michener, Attorney-in-fact 05/12/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Of the total, 14,375 are restricted shares awarded pursuant to the Assured Guaranty Ltd. Long-Term Incentive Plan. The restricted shares vest as follows: 1/4 of the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the third anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award, with 1,250 vesting on February 10, 2006, 3,125 vesting on April 27, 2006,1,250 vesting on February 10, 2007, 3,125 vesting on April 27, 2007, 1,250 vesting on February 10, 2008, 3,125 vesting on April 27, 2008 and 1,250 vesting on February 10, 2009.
(2) Shares held in the name of a trust pursuant to the Assured Guaranty Replacement Award Plan.
(3) Stock option award pursuant to the Assured Guaranty Ltd. 2004 Long-Term Incentive Plan granted on 04/27/2004. Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.
(4) Stock option award pursuant to the Assured Guaranty Ltd. 2004 Long-Term Incentive Plan granted on 02/10/2005. Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.

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