ACE LAUNCHES HIGH-NET-WORTH INDIVIDUAL COVER IN CANADA

Ace Group said Tuesday that it has launched personal lines cover for high-net-worth individuals in Canada through its Ace Private Risk Services operation. The new business, which is initially being launched in Ontario, is headed by James Hasley, senior vice-president and Canada country manager for Ace Private Risk Services. “We see tremendous opportunity in Canada, where the high-net-worth personal insurance market exceeds $1bn in premium”, Hasley said. “Many financially successful individuals and families remain with standard insurance companies that may lack the specialised coverages they actually need. Ace’s approach provides customised coverages and services to offer a comprehensive risk management solution, making it easier for agents and brokers to attract and better service this important client group”. Ace’s launch of high-net-worth personal insurance in Canada follows similar launches in 2014 in the UK, France, Italy, Spain, Portugal, Switzerland and Monaco.