MGIC Announces Retirement of SVP Chief Investment Officer/Treasurer and Promotes Replacement

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Feb 06, 2013, 04:30 ET

MILWAUKEE, Feb. 6, 2013 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), is announcing the retirement of James Karpowicz, CFA, Senior Vice President Chief Investment Officer/Treasurer, effective March 1. Mr. Karpowicz joined MGIC in October 1986 as Assistant Treasurer. Since January 2005 he has held the position of Senior Vice President Chief Investment Officer/Treasurer. During his 26 year tenure with MGIC, Mr. Karpowicz made significant contributions to the company.

With Mr. Karpowicz's retirement, MGIC also announces the promotion of Lisa Pendergast to Vice President Treasurer, effect March 1. In addition to serving as Assistant Treasurer for the past 11 years, Ms. Pendergast's prior MGIC positions include Treasury Operations Manager and Investment Portfolio Analyst. Prior to joining MGIC in 1998, Ms. Pendergast's experience included 15 years in finance, treasury and management positions.

Ms. Pendergast earned her Bachelor of Science degree from the University of Wisconsin – Oshkosh and her Master of Science degree from the University of Wisconsin – Milwaukee. She is a Certified Public Accountant.

About MGIC

MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, is the nation's largest private mortgage insurer as measured by $164.9 billion primary insurance in force covering 1 million mortgages as of September 30, 2012. MGIC 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.

From time to time MGIC Investment Corporation releases important information via postings on its corporate website without making any other disclosure and intends to continue to do so in the future. 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 can be found at http://mtg.mgic.com under Investor Information.

SOURCE MGIC Investment Corporation