Ambac Financial Group, Inc. 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, and is conducted through its primary operating subsidiary, Ambac Assurance Corporation and its wholly owned subsidiary Ambac Assurance UK Limited (Ambac UK). 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.