Bermuda market veteran Jed Rhoads has been appointed to the board of directors of Radian Group Inc, the Pennsylvania-headquartered mortgage insurer.

“We are thrilled to welcome Jed to the Radian board of directors,” said Radian non-executive board chairman Howard B. Culang.

“Jed’s vast experience in leading reinsurance operations around the world will add even more insight to the broad perspectives we value on the Radian board.

“His long career assessing and managing risk makes him an ideal addition to the board and we look forward to working with him.”

Radian chief executive Rick Thornberry added: “Jed comes with tremendous experience and a variety of skills that align with Radian’s core business and strategic goals.

“At Radian, our board is focused on guiding and empowering a team that transforms risk into opportunity and Jed is extremely well suited to help us do that.”

Mr Rhoads, 66, served from 2013 until 2022, when he retired as president and chief underwriting officer for the global reinsurance division at Markel Group Inc, a financial holding company that markets and underwrites specialty insurance products.

In 2013, Markel acquired Alterra Capital Holdings Ltd, where Mr Rhoads held a senior executive role.

He also held senior positions at Harbor Point Re Bermuda and Chubb Re Bermuda, predecessor operations to Markel Global Re.

Mr Rhoads was executive vice-president of reinsurance and chief underwriting officer for Overseas Partners Ltd and was a principal and underwriter for Stockton Reinsurance Bermuda. Before that, he served as executive vice-president of Sedgwick Re.

He also served as chairman of the Reinsurance Association of America.