CMAC Investment Corp. has elected Frank P. Filipps, its president since January 1995, to the additional post of chief executive officer.

Mr. Filipps joined CMAC in October 1992 as senior vice president. Earlier, he had worked at American International Group, most recently as vice president and treasurer.

CMAC is the parent of Commonwealth Mortgage Assurance Co., which sells private mortgage insurance and risk management services to lenders.

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