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  "documentTitle": "Assured Guaranty (AGO)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2018-04-23 00:00:00",
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      "text": "The amortization of its old business is greater than the acquired plus new business.",
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      "text": "Insured net par, Acquired net par, Organic change in net par from 2014-2017",
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      "text": "...but even consolidation hasn't stopped the business from shrinking. The amortization of its old business is greater than the acquired plus new business.",
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      "text": "Source: AGO annual reports for years presented, available at http://assuredguaranty.com/investor-information/by-company/assured-guaranty-ltd, and Greenlight calculations.",
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