Ambac Financial Group, Inc. (Ambac) is a financial services holding company. The Company operates through two business segments: Financial Guarantee and Financial Services. The Financial Guarantee segment includes insurance policies and credit derivative contracts. Insurance policies insured by Ambac Assurance and Ambac UK guarantee payment when due of the principal and interest on the obligation guaranteed. The Financial Services business segment provides financial and investment products, including investment agreements, funding conduits and interest rate swaps, principally to the clients of its financial guarantee business. Its subsidiaries, Ambac Assurance Corporation, Everspan Financial Guarantee Corp. and Ambac Assurance UK Limited (Ambac UK), provide financial guarantees and other financial services to clients in both the public and private sectors across the world.