Mortgage insurance specialist NMI Holdings has appointed Adam Pollitzer, current Executive Vice President and Chief Financial Officer, to President and Chief Executive Officer (CEO).
Pollitzer will also join the company’s Board of Directors upon assuming his new role. He succeeds Claudia Merkle, who will step down as CEO and as a member of the Board.
He has led National MI’s finance function and has had responsibility for the company’s strategic planning and corporate development efforts, whilst also managing the company’s funding profile and reinsurance program.
Pollitzer currently serves on National MI’s Executive Committee and played a key role in leading the company through the COVID pandemic.
Bradley Shuster, Executive Chairman and Chairman of the Board commented: “This leadership transition comes at the right time for National MI and is the result of a deliberate and collaborative succession planning process.
“The Board is grateful to Claudia for her leadership and dedication to National MI over her many years of service, and for the strong foundation she has established to support the company’s continued growth and success.
“Over her nearly decade-long tenure with National MI, Claudia has overseen the growth of National MI’s customer franchise and led the development of its underwriting and operational capabilities.
“Since her promotion to CEO in 2019, National MI has nearly doubled its insurance in-force from $69 billion to $137 billion, and the company was recognized on Fortune Magazine’s 100 Fastest-Growing Companies list for its combined revenue, net income and stock price performance.”
“The Board is confident that Adam is the right leader to guide National MI going forward. He is a talented and seasoned executive with deep knowledge of the mortgage insurance market, key experience and success as a senior leader of National MI, and a demonstrated commitment to our company, our customers and our people.
“Adam has been instrumental in shaping our corporate strategy and financial success, and we are confident in his ability to drive National MI’s continued growth and outperformance.”
Merkle commented: “I’ve been privileged to work with our Board of Directors and a talented, dedicated group of colleagues. Our goal has always been to support our lender customers and their borrowers with a differentiated commitment and standard of service, while also driving responsible growth in our high-quality insured portfolio and strong risk-adjusted returns for our shareholders.
“I am grateful to our customers for their steadfast partnership and support, and proud of the success we have achieved together. National MI is well-positioned to grow and prosper, and there is no more qualified person than Adam to lead the company going forward. I look forward to watching the team’s continuing success.”
Pollitzer added: “I am honoured to be appointed National MI’s next President and Chief Executive Officer, and deeply appreciative of the leadership and support Claudia has provided over the last several years. This is an exciting time at National MI. We are leading with impact and helping a record number of deserving borrowers gain access to homeownership.
“Our core mortgage insurance products are in greater demand than ever before, and the increased digitisation of the mortgage market has allowed us to expand our customer reach and accelerate our growth. We have a robust capital position and remain committed to building our business in a durable, risk-responsible manner.
“I’m looking forward to working with our talented executive management team, Brad, and the rest of the Board of Directors to continue to deliver results for our customers, our community, our employees and our shareholders.”