|To valued Fireman’s Fund producers,
On Thursday, December 18, ACE reached a definitive agreement to acquire the high net worth (HNW) personal lines insurance business of Fireman’s Fund. We plan to combine the business with our HNW personal insurance business, ACE Private Risk Services, with the combined entity operating under the ACE brand.
We’re excited about this opportunity to work with you and to support your business at a time when ACE Private Risk Services continues to grow and be recognized as the best High Net Worth Insurance Company in the industry by Private Asset Management Magazine.
When this transaction is completed, ACE Private Risk Services will be one of the largest HNW providers in the U.S. We believe the scale, and the combination of talent, technology and resources, will be a win-win for both you and your clients.
Here are some of the benefits you can expect to experience right away:
- ACE Private Risk Services is backed by the financial strength, underwriting expertise and global presence of ACE Group – the world’s fifth largest multiline P&C insurance company by market cap with assets of $98 billion and total capital of $36 billion. Our core operating insurance companies are rated “AA” for financial strength by S&P and “A++” by A.M. Best.
- ACE Private Risk Services offers an extensive suite of products and customized solutions for your high net worth clients – auto, homeowners, recreational marine, umbrella liability and collections.
- Our products and solutions are paired with excellent claims service: 97% of clients who have received a claim payment would refer us to their friends or family. As we combine Fireman’s Fund’s outstanding claims team with ours, you can continue to count on industry leading claims service.
- ACE Group is truly a global company, with operations in 54 countries and a network that spans 200 countries. This means that HNW clients in the U.S. who have assets and risk exposures abroad now have an insurance partner. In 2014, we expanded our global client personal lines capabilities to include seven countries in Europe, and are launching HNW personal insurance solutions in Canada.
- ACE Private Risk Services offers improved infrastructure and services to support the Fireman’s Fund’s policyholders, and has been built for growth. In addition to offering your agency the ability to self-serve quote and issue for both new business and endorsements, ACE offers you access to either direct or agency bill, selectable by client. ACE also offers many client-focused services to provide flexible options that reduce your administrative burden. For example, ACE Private Risk Services clients have the flexibility to see all their coverage on one bill, and can pay their bill at any time and from anywhere in the world via phone or web. For more details, visit: www.aceprs.com/paymybill
- Like Fireman’s Fund, ACE is dedicated to strong agency partnerships. Service, underwriting and claims capabilities will be further enhanced by an expanded network of offices across the country.
The transaction is expected to be completed in the second quarter of next year and we will strive for a smooth and efficient transition for you and your customers. You can expect frequent communication, detailed planning and support to help you during the transition.
In the meantime, if you have any questions, please contact your existing Fireman’s Fund or ACE Private Risk Services field relationship partner. Our website also has more information about ACE Group at www.acegroup.com and the specialized products and services of ACE Private Risk Services at www.aceprs.com.
We look forward to working with you to provide the very best insurance products and service for the high net worth market.
Juan C. Andrade Executive Vice President, ACE Group Global Head of Personal Lines and Small Business Insurance
Bob Courtemanche Mary Boyd Chairman, ACE Private Risk Services Division President, ACE Private Risk Services
P.S. If you do not currently have a direct agency appointment with ACE, our team can work with your office to initiate that process.