NEW YORK--(BUSINESS WIRE)--Arch Insurance today announced that Stephen Ruschak has been hired as Executive Vice President, Surety. Ruschak most recently was Chief Executive Officer of The Guarantee Company of North America.

In this 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.

“We’re fortunate to have someone of Stephen’s caliber join our team. His unique background, including experience leading and profitably growing companies, will allow him to bring different perspectives to this role and to our company,” said Stock. “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.”

“I’m excited to join a leading organization like Arch, and the Surety team specifically,” said Ruschak. “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.”

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 holds a B.A in History from Albion College, a J.D from the University of Detroit School of Law and an MBA from the University of Chicago Booth School of Business.

About Arch Insurance North America

Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada.

About Arch Capital Group Ltd.

Arch Capital Group Ltd., a Bermuda-based company with approximately $15.2 billion in capital at September 30, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.