PMI Promotes Chris Hovey to SVP

PMI Mortgage Insurance (PMI) promoted Chris Hovey to senior vice president of servicing operations and loss management. Hovey will be responsible for claims and loss management, homeownership preservation and loss mitigation, and policy servicing and business intelligence. Before the promotion, he was vice president of the latter. Hovey, will now report to executive vice president Joanne Berkowitz. “Chris industry expertise and his multidisciplinary perspective will strengthen PMI’s ability to provide best in class service to its clients, as well as ensuring operational excellence internally,” Berkowitz said. Hovey started at PMI in 2002, holding positions in portfolio and IT operations for the PMI US mortgage insurance business. Before PMI, Hovey spent time in the software industry, and founded an ecommerce company he sold in 1999. The PMI Group sold 77m shares of common stock in April for a $706m capital boost after reporting a $157m loss in Q110. Write to Jon Prior. The author held no relevant investments.