Wall Street Journal Report: Ambac Financial Group, Inc. is a leading financial services holding company that operates three primary businesses. The company specializes in Specialty Property and Casualty Insurance which deals with commercial and personal liability risks. The business also includes Insurance Distribution, which encompasses managing general agents and underwriters, wholesalers, brokers, and other distribution businesses. Additionally, the Legacy Financial Guarantee (LFG) Insurance business provides financial guarantee insurance policies that offer holders of a debt obligation protection against non-payment. The company has been in operation since 1991 and calls New York City its headquarters.