executive officer of MGIC Investment Corp. and will leave the board, effective Dec. 31, the company said last week.

Curt S. Culver, 47, will become chief executive. He succeeded Mr. Lacy last January as chief executive officer of Mortgage Guaranty Insurance Corp., a principal subsidiary of MGIC Investment.

Mr. Lacy has been chief executive of MGIC Investment since 1987 and its chairman since January. Mr. Culver has spent 10 years with the company in various positions, including chief operating officer and executive vice president.

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