Exhibit 99.1
FOR IMMEDIATE RELEASE
NEWS RELEASE
Triad Guaranty Inc.
NASDAQ Symbol: TGIC
www.triadguaranty.com
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Contact: Mark K. Tonnesen
President and CEO
800-723-1282, ext. 1101
mtonnesen@tgic.com
TRIAD GUARANTY ADDS TO EXECUTIVE MANAGEMENT TEAM
New CFO and New Senior Vice President Join Company
WINSTON-SALEM, NC, April 4, 2006-- Triad Guaranty Inc. (NASDAQ: TGIC) announced
today that its subsidiary, Triad Guaranty Insurance Corporation, has moved to
strengthen its Senior Management Team by hiring Kenneth W. Jones, CPA, as Senior
Vice President, Chief Financial Officer and Stephen J. Haferman as Senior Vice
President, Risk Management and Technology Services. Mr. Jones will hold similar
titles at Triad Guaranty Inc. and replaces Eric B. Dana who resigned from the
company to pursue other interests. Mr. Jones and Mr. Haferman will report to
Mark K. Tonnesen, President and Chief Executive Officer, in carrying out their
responsibilities.
In his position, Mr. Jones will have full responsibility for all financial
matters pertaining to the company. Mr. Jones comes to Triad with over 25 years
experience in the financial management of companies. Mr. Jones had been at RBC
Liberty Insurance Corporation, where he served as Senior Vice President, Chief
Financial Officer, since 2000. He moved to the Winston-Salem area upon
completion of RBC Liberty's divestiture of Liberty Insurance Services in
mid-year 2005. Previously he was associated with The Liberty Corporation, where
he held a number of management positions, most recently Vice President,
Controller and Acting Chief Financial Officer, and formerly with Ernst & Young.
Mr. Jones is a Certified Public Accountant (CPA) and Fellow, Life Office
Management Association. He holds a B.S. in Accounting from Wake Forest
University.
In his position, Mr. Haferman will have responsibility for all risk management
analytics functions and technology services of the company. Mr. Haferman was
previously with Cheryl and Company, Columbus Ohio from 2003, most recently as
Senior Vice President, Chief Operating Officer. From 2001 to 2003 Mr. Haferman
was employed by American Electric Power as Vice President, Marketing Information
Management. From 1992 to 2001 he worked for Bank One Corporation in a number of
divisions and a variety of senior management positions including; Senior Vice
President, Direct Marketing for Bank One Retail; Senior Vice President,
Technology Program Manager, Bank One Retail; Vice President, Risk Department
Manger. From 1988 to 1992 he worked for National City Bank where he was Risk
Manager.
Mr. Haferman is a graduate of The Ohio State University where he received an MBA
in Finance/Strategy. He received a bachelors degree in Business, summa cum
laude, from Capital University.
"One of Triad's strengths is the deep experience of the senior management team
in the mortgage insurance business. Ken and Steve are seasoned executives who
bring complementary skills that will serve the long-term interests of Triad's
shareholders," stated Mr. Tonnesen. "I know I speak for the entire executive
management team in looking forward to them joining Triad, sharing their
expertise and experience and helping an already strong Team make Triad Guaranty
the employer of choice in our community and industry."
Triad Guaranty Inc.'s wholly owned subsidiary, Triad Guaranty Insurance
Corporation, is a nationwide mortgage insurer providing credit enhancement
solutions to its lender customers and the capital markets. This allows buyers to
achieve homeownership sooner, facilitates the sale of mortgage loans in the
secondary market and protects lenders from credit default-related expenses. For
more information, please visit the company's web site at
http://www.triadguaranty.com.
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