WINSTON-SALEM, N.C. and TORONTO, May 29 /PRNewswire-FirstCall/ -- Triad
Guaranty Inc., (Nasdaq: TGIC), announced that its newest subsidiary, Triad
Guaranty Insurance Corporation Canada (Triad Guaranty Canada), has received
its Order to Commence and Carry On Business from Canada's Office of the
Superintendent of Financial Institutions (OSFI).
Triad Guaranty Canada is in the process of receiving its provincial
licenses so that it can begin to actively market its products in Canada.
According to Greg McKenzie, president and chief executive officer,
Triad Guaranty Canada, "As we secure our provincial licenses, our core
values of product innovation, customer service and risk management remain
critical building blocks that will be tailored to the particular needs of
the Canadian market. Our goal, as stated by Mark Tonnesen, president and
chief executive officer of our parent company, is to offer value and
convenience to the Canadian customer."
Triad Guaranty Inc.'s wholly-owned subsidiaries, Triad Guaranty
Insurance Corporation and Triad Guaranty Canada are mortgage insurers
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
SOURCE Triad Guaranty Inc.
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Related links:
http://www.triadguaranty.com
CONTACT:
US: Jerrold C. Schwartz, Vice President,
Marketing, Triad Guaranty Insurance Corporation, +1-336-723-1282
ext. 1122, jschwartz@tgic.com; or Canada: Greg McKenzie,
President and CEO, Triad Guaranty Canada, +1-888-648-7423,
gmckenzie@tgic.com
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