UNITED STATES

                            Washington, D.C. 20549


                                   FORM 8-K
                                Current Report
                    Pursuant To Section 13 or 15 (d) of the
                        Securities Exchange Act of 1934
       Date of Report (Date of earliest event reported)--March 14, 2005


                             ASSURED GUARANTY LTD.
            (Exact name of registrant as specified in its charter)


        Bermuda                    001-32141                    98-0429991
(State or other           (Commission File Number)          (I.R.S. Employer 
jurisdiction of                                             Identification No.)
or organization) 

                             Assured Guaranty Ltd.
                             30 Woodbourne Avenue
                            Hamilton HM 08 Bermuda
                   (Address of principal executive offices)
      Registrant's telephone number, including area code: (441) 296-4004

                                Not applicable
         (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425) 
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
    (17 CFR 240.14a-12) 
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the 
    Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

         (Former name or former address, if changed since last report)

Item 5.02  Departure of Directors or Principal Officers; Election of Directors;
           Appointment of Principal Officers.

         On March 14, 2005, Mr. Kramer submitted a letter to the Board of
Directors stating that he will retire from the Board of Directors upon the
expiration of his term. His term expires at the upcoming annual general
meeting of shareholders to be held on May 5, 2005. The Nominating and
Governance Committee will recommend that, commencing May 5, 2005, Walter Scott
serve as Chairman of the Board, subject to approval by the Board of Directors
at its meeting immediately following the annual general meeting. Mr. Kramer
also serves as Chairman of the Finance Committee. A successor to that position
will be selected at the Board meeting that immediately follows the annual
general meeting.

Item 9.01  Financial Statements, Pro Forma Financial Information and Exhibits.

           (c)  Exhibits

                Number     Description
                -------    -----------
                99.1        Letter from Mr. Kramer, dated March 15, 2005
                            (received on March 14, 2005)

                99.2        Press Release dated March 16, 2005


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                           ASSURED GUARANTY LTD.

                                           By:  /s/ James M. Michener
                                               James M. Michener
                                               General Counsel and Secretary
DATE:  March 16, 2005