Jewelers Mutual (JM) announced this week that it has purchased the personal jewelry business of Jewelry Insurance Brokerage of North America (JIBNA).
No financial details were disclosed.
Founded in 2007 by jewelry appraiser David Hendry, JIBNA calls itself “the exclusive underwriting manager for personal jewelry insurers within the 50 U.S. states and D.C.” It has put out a regular newsletter on industry insurance issues.
JM said in a statement that it is “dedicated to ensuring a seamless transition for JIBNA’s valued clients…. Every JIBNA policyholder will continue to receive specialized protection for their personal jewelry.”
Neenah, Wis.–based Jewelers Mutual has made a string of acquisitions in recent years. This spring it purchased Australian insurer Jewellers Loop, and last year it snapped up Union Life & Casualty (UL&C), an insurer for pawnbrokers. JM bought e-tailer Gem + Jewel in 2021, and Wexler Insurance/IJB in 2020.
Top: Jewelers Mutual’s headquarters in Neenah, Wis. (photo courtesy of Jewelers Mutual)