Jewelers Mutual® Group Acquires Q Report
The acquisition creates a competitive advantage that will expand the Group's footprint into Australia and allow for operational synergies that will benefit the global jewelry market.
NEENAH, Wis., April 3, 2025 /PRNewswire/ -- Jewelers Mutual® Group, the insurance and business solutions provider dedicated to the jewelry industry since 1913, recently announced its acquisition of Jewellers Loop, the company which founded Q Report. Jewellers Loop is an Australian general agency with access to two leading specialized jewelry insurance products, Q Report and JewelCover. The acquisition marks a significant milestone in the history of Jewelers Mutual, representing the company's initial venture into international markets for personal jewelry insurance.
Both organizations will leverage their combined expertise to expand personal lines insurance solutions to more customers in more markets. The acquisition sets the foundation to further revolutionize how products and services are delivered through the synergistic alignment of technology, data and analytics for enhanced customer experiences.
"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 Chief Executive Officer 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."
Jewellers Loop was founded in 2004 under the Q Report brand as Australia's first specialist jewelry insurance provider. Since inception, the company has built a strong reputation and is known for its high-quality service and customer satisfaction, providing access to comprehensive coverage for jewelry customers. Both insurance products offered through Jewellers Loop – Q Report and JewelCover – are underwritten by Chubb Insurance Australia Unlimited, a carrier relationship valued by Jewelers Mutual.
"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," said Rami Baron, Chief Executive Officer and Founder of Jewellers Loop.
For more information about this acquisition and what it means for customers in both North American and Australian markets, visit JewelersMutual.com/JL.
Oppenheimer & Co. Inc. served as exclusive financial advisor, and Dentons provided legal counsel, for Jewelers Mutual.
ABOUT JEWELERS MUTUAL GROUP
Jewelers Mutual was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual's powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers' strong financial position is reflected in their 38 consecutive "A+ Superior" ratings from AM Best Company, as of November 2024. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas, Miami, Florida and Raleigh, North Carolina. To learn more, visit JewelersMutual.com.
ABOUT JEWELLERS LOOP
Jewellers Loop, the company which founded Q Report, was established in 2004 as Australia's first specialist jewelry insurance provider and today is a leading Australian provider of specialty consumer insurance for jewelry and time pieces. The company provides comprehensive insurance across three key categories: engagement rings, watches and jewelry, and through two brands: 'Q Report' and 'JewelCover'. These two brands have enjoyed a 20-year relationship with Chubb Insurance Australia Limited as their underwriters and continues to do so. Jewellers Loop retains ownership of the customer relationship and customer data and manages all customer interactions. Since inception, the company has built a strong reputation and is known for its high-quality service and customer satisfaction, as evidenced by its 5.0-star Google ratings.
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SOURCE Jewelers Mutual Group
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