GREENSBORO, N.C.--(BUSINESS WIRE)--United Guaranty Corporation has named Tom Parrent Chief Risk Officer (CRO). Parrent comes to United Guaranty from American International Group, Inc. (AIG), where he had been Senior Managing Director of Asset Risk Analytics within Corporate Enterprise Risk Management since 2012.
Parrent joined United Guaranty in Greensboro when former United Guaranty CRO Jason Berkey was named Chief Portfolio Actuary for AIG’s Global Consumer Insurance. Berkey joined United Guaranty as Corporate Actuary in January 2004, became Chief Actuary, and then CRO. The moves reflect AIG’s dedication to optimizing talent utilization companywide.
“Tom Parrent brings a wealth of experience to our team in a crucial role,” said United Guaranty President and CEO Donna DeMaio. “Under his leadership, we’ll enhance the Performance Premium® pricing introduced in 2009 by Jason Berkey’s team. By providing better rates for quality loans, this risk-based platform creates certainty for lenders and savings for consumers.”
Prior to joining AIG, he was CRO for a large U.S. mortgage insurer and has held senior management positions at a number of major financial institutions, including GMAC ResCap, ABN AMRO, and Lincoln Capital Management.
Parrent holds a bachelor’s in economics from Princeton University and an MBA in statistics and finance from the University of Chicago.
With the addition of Parrent, John Gaines was named Senior Vice President–Chief Underwriting Officer and will join United Guaranty’s Policy Committee. Gaines, who has been with United Guaranty for 16 years, was previously SVP–Deputy Chief Risk Officer.
About United Guaranty1
United Guaranty Corporation and its subsidiaries provide certainty to mortgage lenders through world-class underwriting, quality risk solutions, and dynamic pricing available through Performance Premium,® the industry’s only MI pricing that is truly risk-based. Established in Greensboro, North Carolina, in 1963, United Guaranty is a company of American International Group, Inc.
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1 United Guaranty is a marketing term for United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company. United Guaranty and Performance Premium are registered marks. Coverage is available through admitted company only.
