Essent Group Ltd. (NYSE: ESNT) announced today that Joseph G. Hissong has joined the Company and will serve as President of Essent's Bermuda reinsurance company, Essent Reinsurance Ltd. ("Essent Re"). The company also announced that Paul C. Wollmann was named Chief Underwriting Officer. Mr. Wollmann has been with Essent Re since 2009. "We are delighted to have someone with Joe's background and experience joining Paul and the other members of our Essent Re team. Paul has done a terrific job in getting Essent Re up and running and I look forward to the both of them leading Essent Re into the future," said Mark Casale, Chairman and Chief Executive Officer. "Additionally, as the sponsor of PartnerRe's original investment in Essent, Joe understands Essent's business, our thoughtful approach to investing in mortgage risk and the opportunity that Essent Re offers our company." Mr. Hissong has over 25 years of experience, specializing in strategy development and executing upon new business initiatives associated with international reinsurance transactions and strategic investment opportunities. His most recent position was Executive Director with the Cartesian Re Group. Prior to joining Cartesian Re, he was the Executive Director and Head of Private Equity/Strategic Investments for PartnerRe, where he sponsored PartnerRe's original investment in Essent. Mr. Hissong earned his law degree from the University of Chicago Law School and his Bachelor of Science degree in mathematics and philosophy from Fordham University. Mr. Wollmann has over 25 years of experience in both insurance and reinsurance, and has extensive experience in structured finance. Prior to Essent, Mr. Wollmann was a Managing Director of Structured & Asset-Backed Finance for RAM Holdings Ltd. Previous roles include Managing Director at RCS Limited and Ritchie Capital Management Limited, both alternative asset management firms, and Senior Vice President for ACE Capital Re International Ltd. Mr. Wollmann earned his MBA from The School of Risk Management, Insurance and Actuarial Science at St. John's University and earned his Bachelors of Arts degree from Rollins College.
About the CompanyEssent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company which, through its wholly-owned subsidiary Essent Guaranty, Inc., (collectively, "Essent") offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania and rated BBB+ by Standard & Poor's and Baa2 by Moody's, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance and reinsurance through its Bermuda-based subsidiary, Essent Reinsurance Ltd. Additional information regarding Essent may be found at www.essentgroup.com. Source: Essent Group Ltd.