| Ambac Financial Group, Inc. (Ambac) is a primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide. Ambac's activities are divided into two business segments: Financial Guarantee and Financial Services. The financial guarantee segment includes financial guarantee insurance and other credit enhancement products, such as credit derivatives. Ambac's Financial Services segment historically provided financial and investment products, including investment agreements, derivative products (interest rate, currency and total return swaps) and funding conduits, principally to clients of the financial guarantee business. During the year ended December 31, 2008, Ambac discontinued writing new investment agreements and derivative products. Its existing investment agreement and derivative product portfolios are in active runoff. |
