same ownership the two most highly rated bond insurers at that time. Assured Guaranty became the only bond insurer to write insurance continuously from the pre-crisis period to the present. Also in 2009, MBIA separated its municipal bond insurance business from its other mostly asset-backed business, and formed National Public Finance Guarantee Corp. ("National") as an investment-grade insurer with the municipal bond insurance business that had previously resided in MBIA. Continuing the trend of reorganization in 2008, Ambac ceased writing business and in 2010 was split into (i) a "segregated account" (with liability for asset-backed and certain other troubled policies) subject to a rehabilitation overseen by the Wisconsin Office of the Commissioner of Insurance and (ii) a "general account" for municipal bond insurance and certain other non-troubled policies. On November 8, 2010, Ambac's holding company filed for Chapter 11 bankruptcy. By order of the New York State Insurance Department, FGIC ceased paying claims in 2010 and is in run-off, now paying claims in part. Syncora Guarantee Inc. ("Syncora"), CIFG, Radian Asset and Ram Re remained solvent but have generally not written new business. Ram Re has been renamed American Overseas Reinsurance Company Ltd. and has redomesticated to Barbados. The company never filed for bankruptcy and is writing new lines of insurance while it runs off its financial guaranty book. In January 2012, Assured Guaranty acquired a bond insurance subsidiary that was owned by Radian Asset but never launched, renamed it Municipal Assurance Corp. ("MAC"), and launched the new company as a municipal-only bond insurer in July 2013. In July 2012, Build America Mutual ("BAM") began operations as a mutually owned municipal-only bond insurer. In December 2014, Assured Guaranty acquired Radian Asset, which was fully merged into Assured Guaranty Corp. ("AGC") in April 2015. In July 2016, Assured Guaranty acquired CIFG, which was merged into AGC. In January 2017, Assured acquired MBIA UK Insurance Limited ("MBIA UK") and renamed it Assured Guaranty (London) Ltd. In June 2017, Standard and Poor's lowered the financial strength ratings of National to A from AA- and lowered the long-term counterparty rating of MBIA Inc. to BBB from A− Subsequent to the downgrade, MBIA announced that National would cease, for the time being, the pursuit of new bond insurance business. In January 2018, Syncora Guarantee announced a successful merger of its subsidiary Syncora Capital Assurance Inc. ("SCAI") into its wholly owned subsidiary, Syncora Guarantee Inc. ("SGI"),