SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
MajorsApr 25, 2019
Jewelers Mutual Plans Transition to Mutual Holding Company
The Wisconsin insurance commissioner and company policyholders must approve the plan in order for it to move forward.
Neenah, Wis.—Jewelers Mutual Insurance Company is planning to transition to a mutual holding company, it announced last week, as it looks to extend the scope of its operations beyond insurance.
The company currently is organized as a mutual insurance company, meaning it’s an insurer owned by its policyholders, rather than stockholders.
Changing to a mutual holding company, or MHC, would allow Jewelers Mutual to become a wholly-owned stock subsidiary of the new MHC while preserving mutual policyholder rights, Mark Willson, vice president and general counsel at Jewelers Mutual, explained to National Jeweler.
The company does not plan to go public and will leave ultimate control of the company in the hands of member policyholders, he said.
The plan is subject to approval by both the insurance commissioner in Wisconsin, where Jewelers Mutual is based, and policyholders.
In a press release announcing the planned transition, CEO Scott Murphy noted that Jewelers Mutual, which has been in business since 1913, has to evolve in order to better serve its policyholders, who are adjusting to the changing needs of the industry.
Transitioning to an MHC will allow for more flexibility, enabling the company to better operate its current business as well as pursue other opportunities in the future, he said.
For example, Willson said the company currently faces limitations on its ancillary operations—divisions like JM Shipping Solution and JM Care Plan, the service contract and extended warranty product jewelers can offer to customers—even if they benefit its core insurance operations.
Becoming a mutual holding company would remove those limitations while still giving the company board oversight and control.
The change will also allow the company to extend membership rights to policyholders of current and future subsidiaries of Jewelers Mutual who would not have them otherwise.
“A tangible example of another component of this additional flexibility is that JM Specialty policyholders would become MHC members under the filed plan and be able to vote for members of the board of directors, extending the company’s ‘mutuality’ to more members than is possible today,” Willson said.
JM Specialty Insurance Company, an insurance underwriting company within Jewelers Mutual, is a new insurer that is set to begin writing business later this year.
The planned transition will not affect any of the current coverages, premium rates, loss prevention or claims-handling processes, the company confirmed.
Jewelers Mutual also noted that its board of directors and officers would remain the same and would not receive any additional compensation because of the transition.
And,
policyholders’ right to vote for board members at the company’s annual meeting will remain intact.
The company’s board of directors already has unanimously approved the change and the plan has since been filed with the Wisconsin Office of the Commissioner of Insurance.
If approved by the commissioner’s office, it then goes to existing and eligible policyholders for a vote.
Policyholders will be able to vote by proxy via mail or email, or can choose to attend a special policyholders meeting.
Dates have not been set for the administrative hearing, proxy mailing or policyholder meeting, but the company said it hopes to complete the transition by the end of 2019.
For more information on the plan, policyholders can call 888-884-2424 or visit JewelersMutual.com.
The company’s board of directors already has unanimously approved the change and the plan has since been filed with the Wisconsin Office of the Commissioner of Insurance.
If approved by the commissioner’s office, it then goes to existing and eligible policyholders for a vote.
Policyholders will be able to vote by proxy via mail or email, or can choose to attend a special policyholders meeting.
Dates have not been set for the administrative hearing, proxy mailing or policyholder meeting, but the company said it hopes to complete the transition by the end of 2019.
For more information on the plan, policyholders can call 888-884-2424 or visit JewelersMutual.com.
More on Majors
The Latest
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
