Radian Group Inc. (NYSE:RDN) today announced that Chief Executive Officer Rick Thornberry has informed the Board of Directors of his intent to retire in December 2026, following nearly a decade of leadership that fundamentally transformed the company.

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Mike Weinbach, CEO-Elect, Radian

The Board has appointed Mike Weinbach as CEO-Elect, effective June 1, 2026. Weinbach will assume the role of chief executive officer and become a member of the Board on August 13, 2026. Thornberry will serve as a strategic advisor through his retirement on December 31, 2026, supporting a disciplined and thoughtful transition.

A Legacy of Strategic Transformation

Since joining Radian as CEO in 2017, Thornberry has more than tripled book value per share on a total return basis, including dividends, delivering a 13.4% compounded annual growth rate while building the operational and financial foundation that enabled the company's next strategic evolution.

That evolution culminated earlier this year with the $1.7 billion acquisition of Inigo Limited, a highly respected Lloyd's specialty insurer with broad reach across diversified, multi-line specialty insurance lines. The transaction, which closed February 2, 2026, marked Radian's entry into the global specialty insurance market and significantly expanded the company's total addressable market.

"Rick's impact on Radian over the last nine years cannot be overstated," said Howard Culang, Non-Executive Chairman of the Board. "Under his leadership, Radian evolved from a strong domestic franchise into a diversified, global company with the financial strength, talent, and strategic positioning to compete and win for years to come. The Inigo acquisition represents a defining moment in Radian's history, and it happened because of Rick's vision, discipline and entrepreneurial leadership. On behalf of the entire Board, we are deeply grateful for his leadership and the remarkable legacy he leaves."

"It has been a privilege to lead the Radian team, and I am deeply proud of all that we have accomplished together," said Thornberry. "We set out to build a company that could grow and perform across market cycles – one with the financial strength, the culture, the disciplined approach to risk and capital, and a genuine commitment to our customers and stockholders, and I believe we have done that. The addition of Inigo is the clearest expression of that ambition, expanding our business and offering a runway of growth that simply was not available to us before. Mike is a proven leader with the experience, discipline, and people-first approach this company deserves, and I look forward to working closely with him to ensure a seamless transition."

Introducing Mike Weinbach

Mike Weinbach is a seasoned executive whose 30-year career has been defined by leading large, complex businesses through growth and transformation at the intersection of financial services, data, and technology. Most recently, he served as President of Mr. Cooper Group, where he successfully led the industry's largest mortgage servicer through its acquisition by Rocket Companies in 2025 while advancing technology initiatives that enhanced customer experience and grew the company's servicing and originations portfolios. Prior to Mr. Cooper, Weinbach was CEO of Consumer Lending at Wells Fargo, overseeing strategy across home, auto, student, and personal lending, credit cards, and merchant services, leading a team of more than 40,000 employees and serving on the company's Operating Committee. Before Wells Fargo, he spent 16 years at JPMorgan Chase, ultimately serving as CEO of Chase Home Lending after progressive leadership roles across consumer banking, business banking, home lending, and auto lending. He began his career as an M&A investment banker at Citigroup. Weinbach holds an MBA from Harvard Business School and a bachelor's degree in economics from The Wharton School of the University of Pennsylvania.

"Selecting a CEO is one of the Board's most important responsibilities, and we approached the process with the rigor it deserves, engaging with Russell Reynolds Associates, a global executive search and leadership advisory firm, to ensure we considered the best leadership talent available," said Culang. "In Mike, we found someone who distinguished himself throughout the process – not only for his track record of leading large, diversified and complex businesses, but for the thoughtfulness and discipline with which he thinks about the road ahead. Radian is exceptionally well positioned, and we have full confidence that Mike is the right leader to build on that foundation."

"Radian has established itself as a truly differentiated company – a best-in-class mortgage insurance business with deep customer relationships, financial discipline, and now a global specialty platform with significant runway," said Weinbach. "I'm coming in with great respect for what Rick and this team have built and a clear focus on what comes next – executing the strategy, investing in our people, and delivering long-term value for our customers and stockholders. I'm looking forward to working with this exceptional team."

About Radian

Radian Group Inc. (NYSE:RDN) is a trusted, global multi-line specialty insurer that helps businesses navigate risk with confidence. Built on financial strength and disciplined risk management, Radian brings clarity to complex risk decisions through its proprietary view of risk and a global perspective. Visit radian.com to learn how our collaborative and customer-centric culture transforms risk into a world of opportunity.

Forward-Looking Statements

Some of the statements in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These forward-looking statements, which may include without limitation, projections regarding our future performance and financial condition, are made on the basis of management's current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of our 2025 Form 10-K, and in our subsequent quarterly and other reports filed from time to time with the SEC. We caution you not to place undue reliance on these forward-looking statements, which are current only as of the date on which we issued this report. We do not intend to, and we disclaim any duty or obligation to, update or revise any forward-looking statements to reflect new information or future events or for any other reason.

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For Investors:

Bob Lally – Phone: 215.231.1570

Email: robert.lally@radian.com

For the Media:

Rashi Iyer - Phone 215.231.1167

email: rashi.iyer@radian.com

Radian CEO Rick Thornberry Announces Intent to Retire; Board Appoints Mike Weinbach as His Successor