Jewelers Mutual Group has made a significant step in expanding its global presence with the acquisition of Jewellers Loop, an Australian insurance provider specializing in jewelry coverage. This acquisition marks Jewelers Mutual’s first international foray into the personal jewelry insurance market, as the company has previously operated only in the United States and Canada.
Founded in 2004 under the Q Report brand, Jewellers Loop became Australia’s first specialist jewelry insurance provider. The company offers two specialized insurance products: Q Report and JewelCover, both underwritten by Chubb Insurance Australia Unlimited.
While the two companies will continue their independent operations, they plan to leverage synergies immediately, enhancing their offerings for the jewelry industry globally. Jewellers Loop will retain control of its customer relationships and data, as well as continue managing all customer interactions.
Although the financial terms of the acquisition were not disclosed, Jewelers Mutual sees this as a strategic move to enhance its ability to serve the jewelry industry on a global scale. Scott Murphy, president and CEO of Jewelers Mutual, shared, “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.”
He added, “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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