W.R. Berkley Corporation, among the latest companies to embrace the high-net-worth market, has debuted its new personal lines brand focused on the space. It’s called Berkley One.

The line is set to launch its products in the latter half of 2017. Plans call for Berkley One to offer specialty personal insurance coverages for home, auto, liability and collectibles to “sophisticated individuals and families,” supported by risk and claim management, on behalf of W. R. Berkley Insurance Group member insurance companies. Products will be distributed through select expert independent agents and brokers.

“The name Berkley One signifies the blending of the collective know how, experience and expertise of Berkley into one-on-one personalized relationships with customers and producers designed to respond to the lifestyles and changing needs of a modern generation of affluence. It is a brand dedicated to the customer first experience and protecting the way customers live,” W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, said in prepared remarks.

W.R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States, and it focuses globally on property casualty insurance and reinsurance. It is pursuing high-net-worth business in an era where other insurers are trying to enhance their own stake in the profitable sector.

Chubb, for example, is heightening its efforts in the high-net-worth market. The insurer, the result of a $29.5 billion merger between ACE Ltd. and the old Chubb, blended both operations’ high-net-worth businesses. In October, Chubb CEO Evan Greenberg disclosed plans to boost its high-net-worth customers’ digital experience in a move expected to help grow the business.

Recently, AIG Private Client Group, an arm of American International Group, released a new study intended to help better understand “ultra-high-net-worth” clients and their property/casualty insurance needs. Among its findings: clients need a single policy for multiple, global properties.

There’s also PURE, a New York-based company including Privilege Underwriters Reciprocal Exchange, a policyholder-owned property/casualty insurer focused on high-net-worth individuals and family. In August, PURE hired executives from both Chubb and AIG.

Source: W.R. Berkley Corp.