MGIC Investment Corporation Announces Retirement of Board Member Donald Nicolaisen

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Oct 24, 2016, 04:30 ET

MILWAUKEE, Oct. 24, 2016 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today announced that Donald T. Nicolaisen has retired from the company's Board of Directors to reduce his outside time commitments. "Don has been a valued advisor to MGIC," stated Curt Culver, non-executive Chairman of the Board. "His wise counsel helped our company weather one of the most difficult housing markets in U.S. history, enabling MGIC to return to the strong condition it enjoys today. On behalf of the board and the company, we thank him for his dedicated service and wish him well for the future."

Mr. Nicolaisen was the Chief Accountant of the United States Securities and Exchange Commission from September 2003 to November 2005, when he retired from full time employment. Prior to joining the SEC, he was a Senior Partner at PricewaterhouseCoopers LLP, an accounting firm that he joined in 1967. Mr. Nicolaisen had served on the Board of MGIC Investment Corporation since October 2006, including as Chair of the Board's Risk Management Committee.

"Don's broad knowledge of the financial industry and insight have been invaluable to us," said Patrick Sinks, President and Chief Executive Officer of MGIC Investment Corporation. "We will miss having him as part of the MGIC family, and his impact on our Company will continue to be felt long into the future."

About MGIC

MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, 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, 2016, MGIC had $180.1 billion of primary insurance in force covering approximately one million mortgages.

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SOURCE MGIC Investment Corporation