Essent Group Ltd, the Bermudian-based mortgage re/insurer, has promoted Christopher G Curran to the role of president of Essent Guaranty Inc.

Essent Guaranty is a nationwide provider of mortgage insurance in the US and a subsidiary of Essent Group Ltd.

As president, Essent said, Mr Curran will have responsibility for the overall operations of the mortgage insurance company including business development, IT, operations, public policy and risk.

He will report directly to Mark A Casale, who will continue to serve as chairman of the board of directors and chief executive officer of Essent Group Ltd and its subsidiaries.

Mr Casale said: “Chris’s deep knowledge of our industry and business along with his broad operations and financial background in the mortgage space enables a seamless transition in leadership of our MI business as I increase my focus on growing the value of our franchise and pursuing opportunities to continue delivering shareholder value.

“For over ten years, Chris has played a significant leadership role in executing key initiatives across the Essent franchise. While I will continue to set strategy for Essent, Chris will oversee delivery on business priorities including the continued evolution of EssentEDGE.”

The company said Mr Curran has served as senior vice-president since 2011, managing the company’s corporate development and investor relations functions.

He has more than 25 years of mortgage insurance, mortgage banking and financial services experience.

The promotion is effective January 1. He will be based in the Greater Philadelphia area.

Mr Curran said: “I am excited to take on the new role of president of Essent Guaranty and lead our MI team to deliver best-in-class service to our customers and expand the utility of our EssentEDGE technology.

“I look forward to partnering with Mark to execute strategies within the MI business and support his future vision for the Essent franchise.”

Essent Group Ltd is a Bermudian-based holding company which, through its wholly owned subsidiary, Essent Guaranty Inc, offers private mortgage insurance for single-family mortgage loans in the United States.

Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermudian-based subsidiary, Essent Reinsurance Ltd.