Former MGIC Chief Dies

Aug. 29--The former chairman and chief executive officer of MGIC Investment Corp. has passed away, according to the mortgage insurance company.

William H. Lacy joined the Milwaukee-based company in 1971. In 1985 he became CEO of subsidiary Mortgage Guaranty Insurance Corp.

In 1987 he was named CEO of MGIC Investment, while he was elected chairman by the parent company's board of directors in January 1999.

Lacy relinquished his role as CEO of the subsidiary at the time he became chairman of MGIC Investment. Curt S. Culver took over as CEO of Mortgage Guaranty Insurance.

On Dec. 31, 1999, Lacy retired as chairman and CEO of MGIC Investment. He was 55 at the time.

"The board recognizes Bill Lacy's many contributions to MGIC and his leadership through the years," an Oct. 21, 1999, news release stated. "Furthermore, the board respects his decision to retire at the end of the year and is confident in the management team he leaves behind to lead MGIC into the future."

Culver took over the chairman and CEO roles of the parent company at the start of the new millennium.

On Monday, MGIC issued a statement indicating that Lacy passed away on Aug. 28.

He suffered from respiratory failure.

The statement said that under Lacy's leadership, the mortgage insurer emphasized quality underwriting and outstanding customer service.

"It is with great sadness that we announce today the passing of my friend and colleague, Bill Lacy," Culver said in today's announcement. "His thoughtful leadership saw MGIC through tremendous changes, and helped shape the company into the industry leader that it remains to this day."

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