Arch strengthens surety business in North America with Stephen Ruschak hire

Arch Insurance has hired Stephen Ruschak as executive vice president for surety.

Ruschak joins from the Guarantee Company of North America where he was chief executive officer.

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

Stock highlighted Ruschak’s experience of leading and profitably growing companies, which he predicted will bring different perspectives to Arch.

“This hire demonstrates our commitment to both the surety and construction markets,” he added.” “We expect to continue to expand the solutions we provide to both the commercial and contract surety markets.”

Ruschak said: “Arch is known as a forward-thinking company that emphasises innovation and service. There is a strong team in place and I’m looking forward to getting started.”

Matthew Shulman, chief executive officer at Arch Insurance North America, called the surety business “a key part of our diversified specialty portfolio.”