US-based Jewelers Mutual Group has entered the Australian insurance market through the acquisition of Jewellers Loop, the agency behind Q Report and JewelCover, two specialised jewellery insurance offerings underwritten by Chubb Insurance Australia.
The move marks Jewelers Mutual’s first international expansion in its personal lines business, positioning the group to offer enhanced protection options for jewellery owners in Australia.
The deal provides Jewelers Mutual with a platform to broaden its footprint beyond the US, building on its more than 100-year focus on the jewellery industry.
Both companies plan to align on technology and analytics to improve product distribution and policyholder engagement.
Jewelers Mutual president and CEO Scott Murphy said the acquisition is designed to support growth for both entities and strengthen service offerings globally.
“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.
He added that the partnership reflects both companies’ objective of protecting jewellery that holds personal value for customers.
Jewellers Loop was established in 2004 and is recognised as one of the country’s earliest providers of standalone jewellery insurance. Its products are distributed through jewellery retailers and digital platforms, serving both traditional and online insurance consumers.
The agency will continue to operate under its existing brand while integrating resources and expertise with Jewelers Mutual.
Rami Baron, CEO and founder of Jewellers Loop, said the collaboration reflects changes in consumer behaviour and the broader insurance environment.
“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,” he said.
The companies have signalled that the acquisition is part of a broader strategy to scale globally and enhance personal jewellery insurance offerings while continuing to honour local relationships and underwriting partnerships in Australia.
The acquisition comes amid data showing that many Australians may be at risk of underinsurance due to outdated contents insurance valuations.
New research from Compare the Market has found that many Australians may be at risk of underinsurance due to outdated contents insurance valuations.
The survey found that the median declared value for household contents in Australia is $50,000. Tasmanian respondents reported a median of $120,000, significantly higher than the national figure.
Older Australians were found to be more proactive in reviewing their policies compared to younger consumers. The data showed that Australians aged 58 and over are around 20% more likely to have either home or contents cover.
