EXHIBIT 99.2




FOR IMMEDIATE RELEASE

NEWS RELEASE
Triad Guaranty Inc.
Nasdaq Symbol: TGIC
www.triadguaranty.com

Contact: William T. Ratliff, III
         Chairman
         800-366-1010
         wtr3@NewSouthFederal.com


                        TRIAD GUARANTY PRESIDENT AND CEO
                            DARRYL THOMPSON TO RETIRE

WINSTON-SALEM,  NC, April 27, 2005--Triad Guaranty Inc. (Nasdaq:  TGIC) reported
today that Darryl W.  Thompson has  announced  plans to retire as President  and
Chief Executive Officer of the Company within the next year. Mr. Thompson stated
that he wanted to provide sufficient notice to the Board to allow it to complete
its senior  management  transition plan, which was begun some time ago. He added
that the Company has a strong  executive  team in place,  particularly  with the
promotion of Ron Kessinger to Chief Operating  Officer and Ken Lard to Executive
Vice  President of Sales and  Operations,  as well as the recent  hiring of Eric
Dana as Chief Financial Officer.

William T. Ratliff,  III,  Chairman of the Board,  commented:  "Triad's Board of
Directors is deeply  grateful for Darryl  Thompson's  leadership  of the Company
from its  inception  through  nearly two  decades of growth to become the strong
publicly-held mortgage insurance company that it is today. We now appreciate the
opportunity  provided by the  advance  notice of  Darryl's  retirement  plans to
complete our selection of the leadership team that will take the Company forward
to new levels of success."


Triad  Guaranty  Inc.'s  wholly  owned  subsidiary,   Triad  Guaranty  Insurance
Corporation,  is a nationwide mortgage insurer providing mortgage insurance (MI)
to residential  mortgage lenders.  Private MI makes  homeownership  available to
buyers with equity of less than 20%,  facilitates  the sale of mortgage loans in
the secondary market and protects  lenders from  default-related  expenses.  For
more    information,    please    visit    the    Company's    web    site    at
http://www.triadguaranty.com.


                                       ###