Arch bolsters surety business with senior hire from The Guarantee

Arch Insurance, part of Arch Capital Group, has hired Stephen Ruschak as executive vice president of surety. He was most recently chief executive officer of The Guarantee Company of North America.

In his new role, Ruschak will have responsibility for Arch’s surety business and will report to Rich Stock, chief underwriting officer, large account casualty, surety, and warranty/lender solutions for Arch Insurance North America.

Stock said: “This hire demonstrates our commitment to both the surety and construction markets. I’m looking forward to Stephen’s contributions to our distribution partners, clients and to our company. We expect to continue to expand the solutions we provide to both the Commercial and Contract Surety markets.”

Matthew Shulman, CEO Arch Insurance North America, added: “The Surety business is a key part of our diversified specialty portfolio and we are very excited to add Stephen to our management team and to lead this business.”

Ruschak commented: “I’m excited to join a leading organization like Arch, and the Surety team specifically. Arch is known as a forward-thinking company that emphasizes innovation and service. There is a strong team in place and I’m looking forward to getting started.”