MGIC Names New Executive Vice President – Chief Risk Officer

MILWAUKEE, Nov. 7, 2019 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), has promoted Steven M. Thompson to be Executive Vice President – Chief Risk Officer.

Mr. Thompson has more than 30 years of experience in the mortgage insurance industry.  He joined MGIC in 1998 and has held several management positions including most recently Vice President Credit Policy and Pricing, and as Interim Chief Risk Officer.

"The combination of Steve's skills and experience, both in the industry and with our company, makes him well suited to lead our risk management team," said Timothy Mattke, CEO of MTG and MGIC.  "Our company and industry are in great shape to expand our role in the market.  Steve's experiences will provide us invaluable insight into how we can expand our role while maintaining a robust risk management culture."

Mr. Thompson earned his Bachelor of Science degree in Finance from the University of Wisconsin – La Crosse.

About MGIC

The principal subsidiary of MGIC Investment Corporation is Mortgage Guaranty Insurance Corporation, or MGIC (www.mgic.com), which serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.  At September 30, 2019 MGIC had $218.1 billion of primary insurance in force covering approximately one million mortgages.

From time to time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website for information related to underwriting and pricing and, intends to continue to do so in the future. Such postings include corrections of previous disclosures and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts.  For information about our underwriting and rate changes, see https://www.mgic.com/underwriting.

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SOURCE MGIC Investment Corporation