BNET Industries

Market Cap:$531.6M
Last Fiscal Year Sales:$1.7B
  • Public
  • US
Dow Jones Description

Holding Company Engaged in the Mortgage Insurance Business

Chief Executive Officer
Curt S. Culver
Number of Employees 1,160
Contact Information

Mgic Plz 270 E Kilbourn Ave

Milwaukee, Wisconsin 53202

mgichome.com

(414) 347-6480

NAICS Code Direct Property and Casualty Insurance Carriers: 524126

Recent Events

  • Fitch Downgrades MGIC on Continued Losses in Insured Portfolio

    10/29/09 - Bond / Stock Rating - View Story

  • S&P lowers MGIC unit ratings on poor results

    10/19/09 - Bond / Stock Rating - View Story

  • BRIEF-MGIC Investment, unit, enter into agreement with Fannie Mae

    10/16/09 - Joint Venture / Alliance - View Story

  • Genworth shares defy market swoon after results

    10/30/09 - Financial Announcement - View Story

  • MGIC Investment Corporation - SWOT Analysis

    9/17/09 - Financial Announcement - View Story

  • MGIC, Radian Close to the Edge: Is It Safe?

    9/22/09 - Bond / Stock Rating - View Story

  • MGIC unveils plan to improve business

    7/16/09 - Bond / Stock Rating - View Story

  • MGIC Losses Widen, Reorganization Planned

    7/19/09 - Financial Announcement - View Story

  • USA Today: MGIC's Culver golfing less during recession

    6/23/09 - Financial Announcement - View Story

News & Analysis

mgic investment corp. and radian group inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Curt S. Culver Chief Executive Officer
Patrick Sinks President
J Michael Lauer Chief Financial Officer
James A. Karpowicz Chief Investment Officer
Joseph J. Komanecki Chief Accounting Officer
Michael G. Meade Chief Information Officer
Lawrence J. Pierzchalski Executive Vice President, Risk Mgmt
Jeffrey H Lane General Counsel, Secretary & Senior Vice President
Joseph J. Ziino Senior Vice President, Regulatory Relations & Assistant Secretary & Assoc General Counsel
Eric Klopfer Vice President, Intl Strategic Initiatives & Regulatory Affairs
Lisa M. Pendergast Vice President & Assistant Treasurer
Sal Miosi Vice President, Marketing
Geoffrey F. Cooper Director
Daniel P. Kearney Business Consultant & Pvt Investor
David S. Engelman Director
Donald T. Nicolaisen Director
James A. Abbott Director
Karl E. Case Director
Kenneth M. Jastrow Director
Leslie M. Muma Director
Sheldon B. Lubar Director
William A. McIntosh Director

Board of Directors

Name (plus bio) Position
Donald T. Nicolaisen Board of Directors
Michael E. Lehman Board of Directors

MGIC Investment Corporation – Chairman since 2005, Chief Executive Officer since 2000, and President from 1999 to January 2006. MGIC Investment Corporation is the parent of Mortgage Guaranty Insurance Corporation. Mortgage Guaranty Insurance Corporation – Chairman since 2005, Chief Executive Officer since 1999 and President from 1996 to January 2006. Mortgage Guaranty Insurance Corporation is a private mortgage insurance company. Director of MGIC Investment Corporation. Director of Wisconsin Energy Corporation, Wisconsin Electric Power Company and Wisconsin Gas LLC since 2004.

Organization Position Status
MGIC Chairman and Chief Executive Officer Current
Mortgage Guaranty Insurance Corporation Chief Executive Officer Current
MGIC Investment Corporation Chief Executive Officer Current
MGIC President Current
Mortgage Guaranty Insurance Corporation President Former
Big Brothers Big Sisters of Metro Milwaukee, Inc Board of Directors Current
Mortgage Guaranty Insurance Corporation Board of Directors Current
Wisconsin Energy Corporation Board Director Current
Wisconsin Electric Power Co Board Director Current
Wisconsin Gas LLC Board Director Current
Wisconsin Energy Corporation Corporate Governance Committee Member Current
MGIC Investment Corporation President Former
MGIC Investment Corporation Director of Former
MGIC Manager Former
MGIC Investment Corporation Principal Former
Mortgage Guaranty Insurance Corporation Principal Former
Wisconsin Energy Corporation Finance Committee Chairman Former
MGIC Investment Corporation Board Director Former
University of Wisconsin-Madison MS Former
University of Wisconsin Ba and Ms With Honors In Real Estate Finance and Urban Land Economics. Former
University of Wisconsin-Madison BA Former
MGIC Investment Corporation Team Member Former

Organization Position Status
MGIC Investment Corporation President Current
MGIC President and Chief Operating Officer Current
Mortgage Guaranty Insurance Corporation Chief Accounting Officer Former
MGIC Investment Corporation Chief Operating Officer Former
MGIC Executive Vice President Former
Mortgage Guaranty Insurance Corporation Executive Vice President Â?? Field Operations Former
Mortgage Guaranty Insurance Corporation Controller Former
University of Wisconsin-Milwaukee Mba Former

Organization Position Status
MGIC Investment Corporation Chief Financial Officer Current
MGIC Executive Vice President & Cfo Current
Financial Executives Institute Member Current
MGIC Investment Corporation Board of Directors Current
Financial Executives Institute Board Member Current
MGIC Investment Corporation Executive Vice President Former
Allis-Chalmers Co. Former
Marquette University BS Degree In Accounting Former

Organization Position Status
MGIC Investment Corporation Chief Investment Officer Current
Mortgage Guaranty Insurance Corporation Cfo Current
MGIC Investment Corporation Treasurer Current
MGIC Investment Corporation Senior Vice President Former

Organization Position Status
MGIC Investment Corporation Chief Accounting Officer Current
MGIC Investment Corporation Senior Vice President Current
MGIC Investment Corporation Controller Current
MGIC Investment Corporation Board of Directors Current
Mortgage Guaranty Insurance Corporation Vice President, Tax Former

Organization Position Status
MGIC Investment Corporation Chief Information Officer Current
MGIC Investment Corporation Senior Vice Presidentâ??Information Services Former
Mortgage Guaranty Insurance Corporation Senior Vice President, Info Services Former

Organization Position Status
MGIC Investment Corporation Executive Vice President, Risk Mgmt Current
MGIC Executive Vice President Current
Mortgage Guaranty Insurance Corporation Executive Vice President, Risk Management Former
Marquette University MBA Former
United States Naval Academy BS degree Former

Organization Position Status
Mortgage Guaranty Insurance Corporation General Counsel, Secretary & Executive Vice President Current
MGIC Executive Vice President, General Counsel and Secretary Current
MGIC Investment Corporation General Counsel, Secretary & Senior Vice President Current
MGIC Investment Corporation Secretary Current
Foley & Lardner Llp Partner Former
MGIC Investment Corporation General Counsel Former
Mortgage Guaranty Insurance Corporation General Counsel Former
Boston University J.D. Former
Columbia University Bachelor's In 1970 Former

Organization Position Status
MGIC Investment Corporation Senior Vice President, Regulatory Relations & Assistant Secretary & Assoc General Counsel Current
Mortgage Guaranty Insurance Corporation Senior Vice President, Regulatory Relations & Assistant Secretary & Assoc General Counsel Former

Organization Position Status
MGIC Investment Corporation Vice President, Intl Strategic Initiatives & Regulatory Affairs Current

Organization Position Status
MGIC Investment Corporation Vice President & Assistant Treasurer Current
Mortgage Guaranty Insurance Corporation Vice President & Assistant Treasurer Former

Organization Position Status
MGIC Investment Corporation Vice President, Marketing Current

Organization Position Status
MGIC Investment Corporation Director Current
MGIC Investment Corporation Director Former

Organization Position Status
MGIC Investment Corporation Business Consultant & Pvt Investor Current
MBIA Inc. Financial Consultant Current
MGIC Investment Corporation Board of Directors Current
Joyce Foundation Board of Directors Current
Fiserv, Inc. Director Current
MBIA Inc. Board of Directors Current
Resolution Trust Corporation Chief Executive Officer Former
Resolution Trust Corporation President Former
Aetna Inc. Executive Vice President Former
Salomon Brothers Inc. Managing Director Former

David S. Engelman has been a director since November 2003. Mr. Engelman serves as Chair of the Governance and Nominating Committee and as a member of the Compensation Committee. Mr. Engelman is a director of Fleetwood Enterprises, Inc., a manufacturer of recreational vehicles and manufactured housing, and from February 2002 to August 2002, he served as its Chief Executive Officer and President on an interim basis. Mr. Engelman has been a private investor for approximately the past six years. Mr. Engelman is also a director of MGIC Investment Corporation and Mortgage Guaranty Insurance Corporation. From 1991 to 1997, Mr. Engelman was Chairman, Chief Executive Officer and President of UnionFed Financial Corporation and its subsidiary Union Federal Bank. Mr. Engelman is a graduate of the University of Arizona.

Organization Position Status
Fieldstone Mortgage Company Member Current
Fieldstone Mortgage Company Chairman of the Board Current
Fieldstone Investment Corporation Governance and Nominating Committee Chairman Current
Mortgage Guaranty Insurance Corporation Director Current
MGIC Investment Corporation Director Current
MGIC Board of Directors Current
Fleetwood Enterprises, Inc. Director Current
Fleetwood Enterprises, Inc. Chief Executive Officer Former
Fleetwood Enterprises, Inc. President Former
Fleetwood Enterprises, Inc. Audit Committee Chairman Former
Standard Pacific Corp. Director Former
Fieldstone Investment Corporation Director Former
Fieldstone Mortgage Company Director Former
The University of Arizona Graduate Former

Organization Position Status
Zurich Financial Services Board of Directors Current
Zurich Financial Services Chairman Current
Verizon Communications Inc. Board of Directors Current
D2C Solutions Board of Directors Current
MGIC Investment Corporation Board of Directors Current
Morgan Stanley Board of Directors Current
PricewaterhouseCoopers Former
Global Com LLC. Board of Directors Former
University of Wisconsin-Whitewater BA Degree Former

Organization Position Status
Zurich Financial Services Director Current
MGIC Investment Corporation Director Current

Organization Position Status
MGIC Investment Corporation Director Current

Organization Position Status
MGIC Investment Corporation Director Current

Kenneth M. Jastrow, II is Non-Executive Chairman, Forestar Group Inc. He served as Chairman and Chief Executive Officer of Temple-Inland Inc. from 2000 to 2007. Prior to that, Mr. Jastrow served as President and Chief Operating Officer in 1998 and 1999, Group Vice President from 1995 until 1998, and as Chief Financial Officer of Temple-Inland from November 1991 until 1999. Mr. Jastrow is also a director of MGIC Investment Corporation. He joined KB Home's Board in December 2001.

Organization Position Status
KB Home Acting Lead Director Current
Sabine Investment Company Chairman of the Board Current
Forestar Real Estate Group LLC Chairman of the Board Current
Forestar Real Estate Group LLC Board of Directors Current
MGIC Investment Corporation Director Current
KB Home Director Current
Temple-Inland Inc. Chief Executive Officer Former
Temple-Inland Financial Services, Inc. Chairman & CEO Former
Temple-Inland Mortgage Corporation CEO Former
Temple-Inland Inc. President Former
Temple-Inland Inc. Chief Operating Officer Former
Temple-Inland Inc. Group Vice President Former
Temple-Inland Inc. Chairman Former
Temple-Inland Inc. Director Former

Organization Position Status
Hyde Park Capital Partners, LLC Director Current
The Gold Shield Foundation, Inc. Director Current
MGIC Investment Corporation Director Current

Organization Position Status
MGIC Investment Corporation Board of Directors Current
Lumasense Technologies, Inc Board of Directors Current

Organization Position Status
Lubar & Co. Founder and Chairman Current
Kestrel Corporation Manager Current
Weatherford International Ltd. Chairman Current
MGIC Investment Corporation Director Current
Grant Prideco, Inc. Director Current
Darby Overseas Investment, Ltd. Board of Directors Current
C2INC Director Current
Crosstex Energy Services Director Current
Star Gas Partners, L.P. Board of Directors Current
Weatherford International Ltd. Director Current
Crosstex Energy Services General Partner Former
Federal Housing Administration Commissioner Former
Dillon Read Former
Total Logistics Corp. Chairman Former
The Conference Co-Chairman Former
The Regents Board of Directors Former
Fannie Mae Director Former
C2 Company, Inc Director Former
University of Wisconsin-Milwaukee Doctor of Commercial Science Degree Former
University of Wisconsin-Madison Law Degree Former
University of Wisconsin-Madison Bachelor’S Degree In Business Administration Former
University of Wisconsin-Madison Degree In Business Administration Former

Organization Position Status
MGIC Investment Corporation Director Current

Executive News

  • MGIC Losses Widen, Reorganization Planned

    MortgageNewsDaily - 7/19/09 - View Story

  • MGIC unveils plan to improve business

    Milwaukee Journal Sentinel - 7/16/09 - View Story

  • UPDATE 4-MGIC's restructuring plan sends shares soaring

    Forbes.com - 7/16/09 - View Story

  • MGIC to invest $1B in new subsidiary

    The Business Journal of Milwaukee - 7/16/09 - View Story

  • MGIC to restructure as losses steepen

    Small Business Times - 7/16/09 - View Story

  • MGIC Investment Q2 Loss Widens, To Cease Writing New Business; Provides $1.0 Bln. Capital For New Subsidiary - Update

    RTTNews.com - 7/16/09 - View Story

  • MGIC to invest $1B in new subsidiary

    Biz Journals - 7/16/09 - View Story

  • MGIC's losses continue to grow

    TradingMarkets - 7/16/09 - View Story

  • MGIC to Capitalize Subsidiary to Write New Business

    PR Newswire - 7/16/09 - View Story

  • MGIC Investment Corporation Reports Second Quarter 2009 Results

    Yahoo! Canada - 7/16/09 - View Story

  • USA Today: MGIC's Culver golfing less during recession

    The Business Journal of Milwaukee - 6/23/09 - View Story

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     MTG $4.25 -0.08 (-1.85% )
Average Volume 4,677,250
Shares Outstanding 125.10M
Market Cap 531.7M
Year High 9.94
Year Low 0.6999
Earnings Per Share -10.73
P/E Ratio -0.40
Dividend 0.10
Yield 2.35
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