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Jewelers Mutual Expands to Australia Via New Acquisition
The company has acquired Australian jewelry insurance provider Jewellers Loop.
Jewelers Mutual Group has acquired Australian insurance provider Jewellers Loop for an undisclosed amount, marking its first venture into international markets.
Neenah, Wisc.—Jewelers Mutual Group has expanded its global footprint following its acquisition of Australian insurance provider Jewellers Loop.
The move marks its first venture into international markets for personal jewelry insurance as Jewelers Mutual currently operates only in the United States and Canada.
The Australian company was founded in 2004 under the Q Report brand and was Australia’s first specialist jewelry insurance provider, said Jewelers Mutual.
It provides two specialized jewelry insurance products, Q Report and JewelCover. They are underwritten by Chubb Insurance Australia Unlimited.
The two organizations will maintain their independent operations, Jewelers Mutual said, while “taking advantage of the synergies that can be realized immediately.”
Jewellers Loop will retain ownership of the customer relationships and customer data as well as continue to manage all customer interactions.
The price of the acquisition was not disclosed.
"This strategic acquisition strengthens our collective ability to deliver unparalleled service and innovation to the jewelry industry on a global scale, ensuring both our companies thrive, grow, and continue learning from each other’s successes," said Scott Murphy, president and CEO of Jewelers Mutual.
“Bringing our capabilities together supports our united mission to elevate the love of jewelry and protect the pieces that mean the world to our customers.”
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The move marks its first venture into international markets for personal jewelry insurance as Jewelers Mutual currently operates only in the United States and Canada.
The Australian company was founded in 2004 under the Q Report brand and was Australia’s first specialist jewelry insurance provider, said Jewelers Mutual.
It provides two specialized jewelry insurance products, Q Report and JewelCover. They are underwritten by Chubb Insurance Australia Unlimited.
The two organizations will maintain their independent operations, Jewelers Mutual said, while “taking advantage of the synergies that can be realized immediately.”
Jewellers Loop will retain ownership of the customer relationships and customer data as well as continue to manage all customer interactions.
The price of the acquisition was not disclosed.
"This strategic acquisition strengthens our collective ability to deliver unparalleled service and innovation to the jewelry industry on a global scale, ensuring both our companies thrive, grow, and continue learning from each other’s successes," said Scott Murphy, president and CEO of Jewelers Mutual.
“Bringing our capabilities together supports our united mission to elevate the love of jewelry and protect the pieces that mean the world to our customers.”
The two companies will combine their expertise to expand personal lines insurance solutions to more customers in more markets, said Jewelers Mutual.
The acquisition will help to further advance how products and services are delivered through the “synergistic alignment of technology, data, and analytics for enhanced customer experiences.”
Rami Baron, CEO and founder of Jewellers Loop, said “The world is changing fast, and the way people interact with businesses is evolving. Together, we’re embracing that change, using technology to enhance every customer touchpoint, and ensuring we remain industry leaders.”
For more information about the acquisition and its impact on customers in North American and Australian markets, visit the Jewelers Mutual website.
In July 2024, Jewelers Mutual also acquired Union Life & Casualty Insurance Agency, a pawnbroker insurance provider, for an undisclosed amount.
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