News

10/21/2008

David Beidler to Lead Radian's Financial Guaranty Business

PHILADELPHIA, Oct. 21 /PRNewswire-FirstCall/ -- Radian Group Inc. (NYSE: RDN) today announced the promotion of David J. Beidler, currently Executive Vice President and Chief Operating Officer of its principal financial guaranty subsidiary, Radian Asset Assurance Inc. ("Radian Asset"), to President of Radian Asset, effective January 1, 2009. Mr. Beidler will report to S.A. Ibrahim, President and CEO of Radian Group. Current Radian Asset President Stephen Cooke, who joined Radian Asset in 2004, will leave his current position with the company at the end of the year, but will continue to serve as a consultant on strategic projects for the foreseeable future.

"Under Steve's guidance, our financial guaranty business has been characterized by its solid financial strength, strong liquidity and highly rated, diversified insured portfolio," said Mr. Ibrahim. "We thank Steve for his guidance and leadership during this time."

"Dave has been an important part of the Radian leadership team for many years. He has been instrumental in building our financial guaranty business and, most recently, helping to guide it through challenging times," said Mr. Ibrahim. "As he transitions into his role, Dave will remain committed to strengthening the company's credit, business strategy and operations, and will continue to be supported by the dedicated Radian Asset team. Along with the entire Radian team, I commend and thank Steve and Dave for their contributions to our organization."

Mr. Beidler joined Radian Asset in 1992 as Vice President and Deputy General Counsel. In 2006 he assumed the role of Executive Vice President and Deputy Chief of Financial Guaranty and has been responsible for credit, business strategy and operational issues related to the company's financial guaranty business. Prior to joining Radian Asset, Mr. Beidler served as Vice President and Counsel for Bond Investors Guaranty Insurance Company, where he provided transactional legal advice and was the Counsel for the Surveillance department. Mr. Beidler has also served as Vice President and Assistant General Counsel for Ambac Indemnity Corporation, where he held a similar role. Prior to this, Mr. Beidler was associated with the law firm of Mudge Rose Guthrie Alexander & Ferdon. Mr. Beidler holds a bachelor's degree from Oberlin College and a J.D. from Brooklyn Law School.

About Radian

Radian Group Inc. is a global credit risk management company headquartered in Philadelphia with significant operations in New York and London. Radian develops innovative financial solutions by applying its core mortgage credit risk expertise and structured finance capabilities to the credit enhancement needs of the capital markets worldwide, primarily through credit insurance products. The company also provides credit enhancement for public finance and other corporate and consumer assets on both a direct and reinsurance basis and holds strategic interests in credit-based consumer asset businesses. Additional information may be found at www.radian.com.

SOURCE Radian Group Inc.