The main investor of Now Health International is to acquire Bermuda-based Best Doctors Insurance, in a move creating a global private medical insurer with a significant high net worth individual client base.

Combined, the firms will have a presence on four continents, with 12 sales/service offices, 100,000+ members, 300+ staff and 5,000+ distribution partners.

Now Health International serves global expatriates, high net worth individuals and small to medium-sized enterprises across Asia, the Middle East and Europe.

Best Doctors Insurance, owned by Boston-based Best Doctors, also caters primarily to HNW individuals and global expatriates, but across Latin America, the Caribbean and Canada.

The news is a reminder of the types of things that wealth managers should have in their "toolbox." As the world grows ever more inter-connected, with people traveling more frequently and expanding their global footprint, the need for comprehensive risk management - including medical insurance - has arguably never been greater.

Last year John Hancock recently noted that the growth of the global high net worth market has created an increasing demand for US life insurance for those individuals who have ties to the US and are seeking solutions to meet their estate and tax planning needs.