ACE Group is boosting its global coverage to provide superior insurance solutions for wealthy Canadians and those with properties in Canada.

ACE Group has launched a high net worth personal insurance business in Canada.

The new business will offer "superior" insurance solutions in Canada though the group's personal insurance arm, ACE Private Risk Services, which serves high net worth individuals and families.

The specialized coverage will be delivered through a portfolio approach and includes home, valuable collections, watercraft and auto insurance. In addition, the business covers cross-border solutions, a policy management system and specialized benefits, such as $100,000 of coverage for identity fraud expenses.

“The portfolio approach helps minimizes coverage gaps and wasteful duplications in coverage, while it also makes the program easier to manage for both the agent or broker and client. In many cases, billing for all the policies can be consolidated on one statement,” said ACE's Canada country president, Andy Hollenberg.

The Ontario launch, led by ACE Private Risk Services' Canada country manager, James Hasley, follows the division's addition to its global insurance offering in the UK, France, Italy, Spain, Portugal, Switzerland and Monaco last year.

The expansion coincides with the acquisition of Fireman’s Fund high net worth personal lines insurance business in the US by ACE Group's parent company, New York-listed ACE Limited. The deal will see the Fireman's business widen ACE Private Risk Services' access to over 120,000 premier personal lines customers, as well as relationships with 1,500 brokers and agents.