Countrywide Insurance Group Names Myron Hendry Chief Operating Officer

Unit emphasizes operational excellence as it expands

CALABASAS, CA  - April 9, 2007 – Countrywide Insurance Group, a member of the Countrywide Financial Corporation (NYSE: CFC) family of companies, today announced thatMyron Hendry has been named Managing Director and Chief Operating Officer of Countrywide Insurance Group.

Hendry will be tasked with ensuring that Countrywide Insurance Group has the world class infrastructure, customer support and corporate governance to support the aggressive growth plans of Countrywide’s insurance subsidiary which has grown its insurance business from $449 million in net premiums earned in 1995 to $948 million in 2006.

He will be responsible for supporting growth enabled by key initiatives for Countrywide Insurance Group, such as the nationwide expansion of its new auto insurance program and the availability of its new home warranty product—two initiatives that are natural extensions of its existing homeowners insurance business and, as a suite of offerings, address the insurance needs of its parent company’s home loan customers.

Hendry will also continue to develop operational efficiencies that allow its lender-placed division to offer innovative property and auto programs that protect lenders from losses in their auto and home mortgage portfolios and support its commercial insurance division’s strategy of supporting their clients with national, world-class resources that benefit businesses and the programs they offer to employees.

“Myron's experience in building organizations and developing dynamic teams will help us establish a stronger customer centric and scalable insurance organization,” said Bob James, President and Chief Executive Officer of Countrywide Insurance Group.  “As we continue our aggressive growth plans, Myron will work closely with insurance group executives Ron Closser, Mark McElroy, and Dave Kuhn to help them grow their successful lender-placed insurance, personal lines insurance, and commercial lines production businesses efficiently and effectively.”

Prior to this appointment, Hendry was responsible for overseeing Countrywide Insurance Group’s central operations, claims and information technology.  He has more than three decades of experience in the insurance industry and an extensive background in multiple lines of business, such as personal, commercial, life, health and accident insurance.  He also has held senior management positions and worldwide responsibility at some of the industry’s most-respected insurance companies, including Safeco and CNA Financial Corporation.

About Countrywide Insurance Group
Countrywide Insurance Group (CIG) makes available a wide variety of institutional, commercial, and personal lines insurance products to financial institutions, businesses, and consumers. CIG companies have demonstrated a commitment to policyholders and business partners for decades and provide a strong foundation for the delivery of new products through financial institutions, independent producers, and a full-service agency and commercial brokerage. 

Contact Information

For media inquiries:
Ed Essa 
800-796-8448
[email protected]