U.S. mortgage insurer Radian Group Inc. said that president and chief financial officer Sumita Pandit is departing the company effective Thursday, according to filings with the Securities and Exchange Commission (SEC).
Radian did not provide details on Pandit’s departure beyond mentioning that “in connection with the involuntary termination of Ms. Pandit’s employment, she will be entitled to receive the compensation and other benefits applicable to a ‘Qualifying Termination’ under her previously disclosed Executive Severance Agreement,” the filings explained.
Following her exit, the board elevated Daniel Kobell and Robert J. Quigley to senior executive vice president roles within the company’s finance functions.
Kobell, who has spent 11 years in Radian’s finance department, will also serve as interim CFO and oversee the company’s financial functions. Prior to joining Radian, he spent eight years at Wells Fargo. He will report to CEO Richard Thornberry.
Quigley, a 17-year Radian veteran, was named as senior executive vice president, controller and chief accounting officer. He will continue overseeing the controller function, internal controls and Sarbanes-Oxley compliance, financial reporting, accounting and tax. Before joining Radian, he worked for a decade at Capmark Financial Group.
The leadership changes come as Radian completes its acquisition of Inigo Limited, a specialty insurance group underwriting through Lloyd’s of London. Philadelphia-based Radian agreed to pay $1.7 billion for Inigo, which will operate as a standalone business unit while retaining its management team, brand and organizational structure.
Analysts at Keefe, Bruyette & Woods said they “don’t see these personnel changes as reflective of any financial issues at Radian.” The company reported net income of $141 million in the third quarter of 2025, with its next earnings release scheduled for Feb. 18.
New mortgage insurance written by Radian totaled $15.5 billion in the third quarter of 2025, up from $13.5 billion in the same period a year earlier. Total primary mortgage insurance in force reached $280.6 billion as of Sept. 30, 2025, compared with $274.7 billion one year prior. Net mortgage insurance premiums earned were $237 million for Q3 2025, versus $235 million in Q3 2024.