MGIC Promotes Hughes and Miosi to Executive Vice President

MILWAUKEE, Jan. 24, 2017 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), has announced the promotion of James Hughes to Executive Vice President - Sales and Business Development and Salvatore Miosi to Executive Vice President - Business Strategy and Operations.

Mr. Hughes previously held the position of Senior Vice President - Sales and Business Development.  He has been a member of MGIC's sales team since 1987 having started with the company as Account Manger in the Mid-Atlantic Region and holding successive positions of increasing responsibility. 

Mr. Miosi previously served as MGIC's Senior Vice President – Business Strategy and Operations.  He has been with the company since 1988 and has held a variety of leadership positions in the operations, technology and marketing divisions. 

"Jay's and Sal's promotions reflect their important contributions as leaders within our organization," explained Patrick Sinks, President and Chief Executive Officer. "As we continue to position MGIC for success, we need to capitalize on the expertise of professionals like Jay and Sal. There is simply no substitute for the degree of industry specific knowledge that they bring to the table."

In addition, MGIC announced the following promotions:

Stacey Murphy has been promoted to Vice President - Talent Management. Ms. Murphy has been with MGIC since 2014 when she joined the company in the newly created position of Talent Management Director. Ms. Murphy earned her Bachelor of Science Degree in Accounting and Business Administration from Lakeland College and her Executive Master's of Business Administration Degree from the University of Wisconsin – Madison.

Christopher Perry has been promoted to Vice President – Sales. Mr. Perry has been a member of MGIC's sales team since 1999. He most recently held the position of Sales Manager. Mr. Perry earned his Bachelor of Arts degree from James Madison University.

David Schroeder has been promoted to Vice President – Claims. Mr. Schroeder has been with MGIC since 2000 and most recently served as Claims Business Systems Director. Mr. Schroeder earned his Bachelor of Arts in Finance; Insurance and Risk Management from the University of Wisconsin – Madison.

Paul Spiroff has been promoted to Vice President– Investments. Mr. Spiroff has been with MGIC since 1987 and most recently served as Vice President Assistant Treasurer. During his tenure, Mr. Spiroff has also served as Assistant Treasurer and Portfolio Manager. Mr. Spiroff earned his Bachelor of Science degree, majoring in Biochemistry, at the University of Wisconsin – Parkside and a Master's degree from Marquette University, majoring in Economics.

"One of the main reasons MGIC has maintained our industry leading position during our 60 year history is due to the talented group of co-workers that I'm privileged to work with," continued Mr. Sinks. "I congratulate Jay, Sal, Stacey, Chris, Dave and Paul on their well earned promotions."

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 December 31, 2016, MGIC had $182.0 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, including corrections of previous disclosures, 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

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