Based in Wisconsin, Jewellers Mutual Group was founded in 1913 and is described as an ‘insurance and business solutions provider.’
The company has acquired Jewellers Loop, a company founded by Rami Baron in 2004. Jewellers Loop provides specialised jewellery insurance products via the Q Report and JewelCover brands.
The terms of the acquisition were not disclosed. President of Jewellers Mutual, Scott Murphy, said this marked a significant expansion into an international market.
"This strategic acquisition strengthens our collective ability to deliver unparalleled service and innovation to the jewellery industry on a global scale, ensuring both our companies thrive, grow and continue learning from each other's successes," he said.
Both insurance products offered through Jewellers Loop - Q Report and JewelCover – are underwritten by Chubb Insurance Australia Unlimited.
Jewellers Loop will continue to operate under its existing brand while integrating resources and expertise with Jewelers Mutual. CEO Rami Baron said the purchase reflected broader in consumer behaviour.
"The world is changing fast, and the way people interact with businesses is evolving,” he said.
“Together, we're embracing that change, using technology to enhance every customer touchpoint, and ensuring we remain industry leaders.”
This is the latest in a line of purchases for Jewellers Mutual Group, as the company also acquired Union Life & Casualty (2024), Gem + Jewel (2021), and Wexler Insurance (2020).
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