Radian names Mike Weinbach CEO-elect, Thornberry retiring

Thornberry joined Radian Group as CEO in 2017 and will remain with the company as a strategic adviser through the end of the year to assist with the transition. During his tenure, book value per share more than tripled on a total return basis, including dividends. Radian expanded beyond mortgage insurance, culminating in the $1.7 billion acquisition of Inigo Limited, a Lloyd’s specialty insurer. The deal closed Feb. 2 and marked entry into the global specialty insurance market. The non-executive chairman credited Thornberry with transforming Radian into a diversified global business. Thornberry emphasized building a business designed to grow across market cycles with financial discipline and strong risk management culture. He said Inigo expands the business and provides a growth runway not previously available.

"Thornberry, who joined Radian Group as CEO in 2017, will remain with the company as a strategic adviser through the end of the year to assist with the transition. During his tenure, the company said book value per share more than tripled on a total return basis, including dividends, while Radian expanded beyond its traditional mortgage insurance business. That expansion culminated earlier this year with Radian's $1.7 billion acquisition of Inigo Limited, a Lloyd's specialty insurer."

"The deal, which closed Feb. 2, marked the company's entry into the global specialty insurance market. Rick's impact on Radian over the last nine years cannot be overstated, Howard Culang, the company's non-executive chairman, said in a statement. Culang said the Inigo acquisition was a defining moment in the company's history and credited Thornberry with helping transform Radian into a more diversified global business."

"Thornberry said the company had worked to build a business capable of growing across market cycles while maintaining financial discipline and a strong risk management culture. 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, Thornberry said in a statement."

"Weinbach brings more than 30 years of experience in banking and consumer lending. At Mr. Cooper, he helped oversee the mortgage servicer's acquisition by Rocket Companies in 2025. Before that, he served as CEO of consumer lending at Wells Fargo, overseeing home, auto, student and personal lending operations. Earlier in his career, Weinbach spent 16 years at JPMorgan Chase, where he eventually became CEO of Chase Home Lending. He began his career in investment banking at Citigroup."

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