Jewelers Mutual Group has expanded into Australia with its acquisition of Jewellers Loop, the country’s first specialist jewellery insurance provider.

The US group says the investment marks its first step into international markets for personal jewellery cover.

“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,” Jewelers Mutual president and CEO Scott Murphy said.

“Bringing our capabilities together supports our united mission to elevate the love of jewellery and protect the pieces that mean the world to our customers.”

Jewellers Loop was founded in 2004 and offers two products – Q Report and JewelCover – that are underwritten by Chubb Insurance Australia.

Founder and CEO Rami Baron said: “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.”