Radian Group Inc. announced that Derek Brummer, President of Mortgage Insurance, will retire on July 3, 2025, after 23 years of service. Brummer joined Radian in 2002, became Chief Risk Officer in 2013, and assumed the role of President, Mortgage Insurance in 2018. His departure marks a significant change in the leadership of the company's core mortgage insurance segment.
Sumita Pandit, Radian's current Chief Financial Officer, will assume an expanded role as Radian President and Chief Financial Officer upon Brummer’s retirement. In this new capacity, Pandit will oversee all aspects of Radian’s mortgage insurance business in addition to her existing CFO responsibilities. This strategic move integrates financial and operational leadership for the key segment.
Pandit was appointed Senior Executive Vice President and CFO in May 2023, having joined Radian in March 2023 as the company’s first Chief Growth Officer. Her background includes over two decades in investment banking, advising fintech companies, and serving as Chief Operating Officer of a global financial technology company. This expanded role leverages her financial markets and operational expertise across Radian's businesses.
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