Ambac Financial Group, Inc. is a financial services holding company whose subsidiaries, including its principal operating subsidiary, Ambac Assurance Corporation (Ambac Assurance), Everspan Financial Guarantee Corp. and Ambac Assurance UK Limited, provide financial guarantees and other financial services to clients in both the public and private sectors globally. Ambac Assurance, including the Segregated Account of Ambac Assurance, is a guarantor of public finance and structured finance obligations. Ambac Financial Group, Inc. is also exploring opportunities involving the acquisition and/or development of new businesses. Its activities are divided into two segments. The Financial Guarantee segment provides financial guarantees (including credit derivatives) for public finance, structured finance and other obligations. The Financial Services segment provides investment agreements, funding conduits, interest rate and currency swaps, to clients of the financial guarantee business.