MGIC ANNOUNCES NEW BUSINESS DEVELOPMENT LEADERSHIP

Rhea-AI Summary

On April 5, 2023, MGIC Investment Corporation (NYSE: MTG) announced three key promotions in its Business Development sector, effective April 1, 2023. Danny Garcia-Velez is now the Senior Vice President of Business Development and Marketing, bringing valuable experience in housing policy and community development. Mike Kull has been promoted to Group Vice President – National Accounts, leveraging over 24 years in mortgage insurance. Kristy Stecker assumes the role of VP – National Account Manager, recognized for her strong customer relations in Arizona and New Mexico. These changes aim to enhance MGIC's commitment to customer experience and strengthen relationships with clients.

Positive

• Leadership promotions demonstrate organizational stability and growth.
• Danny Garcia-Velez's extensive experience in housing policy is expected to improve customer relations.
• Mike Kull's expertise in national accounts positions MGIC for better service delivery.

Negative

• None.

MILWAUKEE, April 5, 2023 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), today announced three promotions in the area of Business Development, designed to further strengthen the company's longstanding commitment to customer experience and relationships. All three promotions are effective April 1, 2023.

Danny Garcia-Velez becomes Senior Vice President of Business Development and Marketing, having joined MGIC in 2017 with extensive experience in housing policy, product management and community development. He quickly stood out as a leader and innovator who has taken on successive leadership roles in the ensuing years. In August 2020, he was promoted to Vice President of Business Development, and in 2022 he was again promoted to Group Vice President, head of regional sales and marketing.

"Danny's strong background paired with his vision are ideal for today's market and the needs of our customer," said Sal Miosi, President and Chief Operations Officer. "His leadership and capabilities will be on full display as he leads our business development and marketing efforts into the future."

Mike Kull will now lead MGIC's National Account effort as Group Vice President – National Accounts. Mr. Kull has over 24 years in the mortgage insurance business and has served as both VP – Managing Director of the Eastern Region and VP – National Account Manager after spending 11 years as a field representative. 

"Mike has extensive background with national and regional customers," said Mr. Garcia-Velez. "His laser focus and deep domain expertise will ensure we are well positioned to best meet the needs of our National Accounts."

Kristy Stecker assumes responsibility as VP – National Account Manager after spending the past 9 years working with accounts in Arizona and New Mexico, during which time she has demonstrated an outstanding ability to help her customers cultivate their business.

"Kristy's tireless work ethic and competitive drive are core to how she approaches her life and her work," said Mr. Kull. "They will translate very well to her customers through her new role in National Accounts."

About MGIC

Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance.

From time-to-time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website, and it 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 rates, see https://www.mgic.com/underwriting.

View original content:https://www.prnewswire.com/news-releases/mgic-announces-new-business-development-leadership-301791175.html

SOURCE MGIC Investment Corporation

FAQ

What promotions were announced by MGIC on April 5, 2023?

MGIC announced three promotions in its Business Development area, appointing Danny Garcia-Velez as Senior Vice President, Mike Kull as Group Vice President – National Accounts, and Kristy Stecker as VP – National Account Manager.

Who is Danny Garcia-Velez in MGIC Investment Corporation?

Danny Garcia-Velez is now the Senior Vice President of Business Development and Marketing at MGIC, effective April 1, 2023.

What is the role of Mike Kull at MGIC after the recent promotion?

Mike Kull is now the Group Vice President – National Accounts, leading efforts to enhance MGIC's customer service for national accounts.

When did the new leadership changes take effect at MGIC?

The new leadership changes at MGIC took effect on April 1, 2023.

How will Kristy Stecker contribute to MGIC's National Accounts?

Kristy Stecker will serve as the VP – National Account Manager, utilizing her experience to strengthen relationships with customers in her new role.