Alan J. Kreczko
ASSURED GUARANTYAbout Alan J. Kreczko
Independent director of Assured Guaranty Ltd. (AGO) since 2015; age 73. Former Executive Vice President and General Counsel of The Hartford, with 27 years of senior legal and policy roles at the U.S. Department of State. Chairs AGO’s Environmental and Social Responsibility Committee and serves on the Nominating & Governance and Risk Oversight Committees. The Board affirmed his independence in February 2025; all directors met at least 75% attendance in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Hartford Insurance Group, Inc. | Executive Vice President & General Counsel; then Special Advisor to CEO | EVP & GC: Jun 2007–Jun 2015; Special Advisor: Jun–Dec 2015 | Oversaw law, government affairs, compliance, communications; chaired Environment Committee; co-chaired Cyber Security Committee |
| U.S. Department of State | Senior legal and policy roles (e.g., Acting Assistant Secretary for Population, Refugees and Migration; Special Assistant to President Clinton; Legal Advisor to the National Security Council; Deputy General Counsel; Legal advisor on Middle East negotiations) | 27 years | Led humanitarian crisis responses; participated in sensitive bilateral/multilateral negotiations |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boys and Girls Clubs of Hartford | Board member | Current | Community leadership |
| Villa Angela–Saint Joseph High School | Advisory council member | Current | Alumni advisory role |
Board Governance
- Committee assignments and chair roles:
- Environmental and Social Responsibility Committee – Chair; 4 meetings in 2024 .
- Nominating & Governance Committee – Member; 4 meetings in 2024 .
- Risk Oversight Committee – Member; 4 meetings in 2024 .
- Independence and engagement:
- Board determined in Feb 2025 that all directors except CEO and new nominee are independent; includes Kreczko .
- 2024 attendance: all current directors ≥75% of Board/committee meetings; Board met 4 times; executive sessions held regularly, presided by the independent Chair .
- Ownership alignment:
- Directors must hold ≥$600,000 of AGO shares (5x maximum cash retainer) before disposing of compensation shares; all longer-tenured independents meet guidelines (newer directors Batten, Radtke, Shea accumulating) .
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Annual director retainer (cash portion) | $120,000 | Retainer totals $265,000; at least $145,000 paid in restricted shares; remaining $120,000 cash unless director elects shares |
| Director equity retainer (restricted shares) | $145,000 (grant-date FV) | Grants vest one day prior to next AGM; dividends accrue and pay on vesting |
| Committee chair fee (ESR Committee) | $30,000 | Chair fee; Audit/Comp chairs $40,000; Finance/NG/RO chairs $30,000 |
| Committee member fees (NG, RO) | $15,000 each | Members (non-chairs) receive $15,000 per committee |
| Meeting fees | $0 unless extraordinary | $2,000 cash only for extraordinary/special meetings; none in 2024 |
| Other compensation | Matching gifts, spousal travel reimbursement, UK tax return prep | Program offers matching gifts up to $25,000 plus special humanitarian match; limited benefits per FW Cook review |
| 2024 Director Compensation (Alan J. Kreczko) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $180,000 |
| Share Awards (grant-date fair value) | $145,000 |
| All Other Compensation | $32,609 |
| Total | $357,609 |
| Unvested Restricted Shares (as of 12/31/2024) | Vesting |
|---|---|
| 3,866 | One day prior to the 2025 AGM (May 2, 2025) |
Performance Compensation
- Non-executive directors do not receive performance-based cash incentives, options, or PSUs; equity is time-based restricted shares vesting before the next AGM. No meeting fees absent extraordinary sessions .
Other Directorships & Interlocks
- Public company directorships: none disclosed for Kreczko .
- Committee interlocks: Compensation Committee composed of independent directors; no members are current/former officers; no AGO executive serves on compensation committees of companies employing Compensation Committee members .
Expertise & Qualifications
- Qualifications highlight legal and compliance, audit/internal control familiarity, government service, insurance industry, corporate governance, risk management; cybersecurity insight via co-chair role at The Hartford .
- Board cybersecurity governance includes semi-annual/annual briefings; directors hold risk-management skills and some cybersecurity oversight certifications at Board level .
Equity Ownership
| Ownership (as of 3/7/2025) | Shares |
|---|---|
| Common Shares Beneficially Owned | 59,900 |
| Unvested Restricted Common Shares | 3,866 |
| Ownership % of outstanding | <1% (none of directors ≥1%) |
| RSUs | Not applicable (director) |
- Anti-pledging/anti-hedging policies are part of AGO’s governance and compensation framework (executives), with robust director ownership guidelines; no pledging by directors disclosed .
Governance Assessment
- Strengths: Independent status; multi-committee service incl. chairing ESG/HCM oversight; ≥75% attendance; strong director ownership guideline compliance; transparent, market-consistent director pay program reviewed by FW Cook; no related-party transactions involving Kreczko disclosed .
- Compensation mix: Cash $180,000 and equity $145,000 in 2024, plus limited other compensation (matching gifts, travel/tax services), aligning incentives to share ownership with one-year vesting to avoid entrenchment .
- Potential conflicts/red flags: None identified specific to Kreczko; related-person transactions disclosed for large shareholders and a new nominee’s advisory firm, not involving Kreczko .
- Investor confidence signals: Independent chairing of ESR, experience in cyber and environmental governance, and consistent engagement/attendance support effective oversight of risk, human capital, and ESG issues .