Area Business

Triad Guaranty names Jones chief executive, president

JOURNAL STAFF AND WIRE REPORT

Published: October 23, 2008

Triad Guaranty Inc. said yesterday that Kenneth Jones has been named as chief executive and president of the company and its subsidiaries, effective immediately.

Jones will retain his role of chief financial officer. William Ratliff, the chairman of the company, had served as interim president and chief executive since July.

Triad Guaranty, based in Winston-Salem, discontinued writing new mortgage-insurance business on July 15 and began conducting "an orderly transition of its business to runoff." That means that its revenue will come from existing policies that will eventually expire. The company has said that it expects to operate for another seven to 12 years.

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