EditorsSep 15, 2025
Skipping the Necklace, Embracing Snakes: The Best Jewelry From the 2025 Emmy AwardsAssociate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.
MajorsApr 25, 2019
Jewelers Mutual Plans Transition to Mutual Holding Company
The Wisconsin insurance commissioner and company policyholders must approve the plan in order for it to move forward.
Neenah, Wis.—Jewelers Mutual Insurance Company is planning to transition to a mutual holding company, it announced last week, as it looks to extend the scope of its operations beyond insurance.
The company currently is organized as a mutual insurance company, meaning it’s an insurer owned by its policyholders, rather than stockholders.
Changing to a mutual holding company, or MHC, would allow Jewelers Mutual to become a wholly-owned stock subsidiary of the new MHC while preserving mutual policyholder rights, Mark Willson, vice president and general counsel at Jewelers Mutual, explained to National Jeweler.
The company does not plan to go public and will leave ultimate control of the company in the hands of member policyholders, he said.
The plan is subject to approval by both the insurance commissioner in Wisconsin, where Jewelers Mutual is based, and policyholders.
In a press release announcing the planned transition, CEO Scott Murphy noted that Jewelers Mutual, which has been in business since 1913, has to evolve in order to better serve its policyholders, who are adjusting to the changing needs of the industry.
Transitioning to an MHC will allow for more flexibility, enabling the company to better operate its current business as well as pursue other opportunities in the future, he said.
For example, Willson said the company currently faces limitations on its ancillary operations—divisions like JM Shipping Solution and JM Care Plan, the service contract and extended warranty product jewelers can offer to customers—even if they benefit its core insurance operations.
Becoming a mutual holding company would remove those limitations while still giving the company board oversight and control.
The change will also allow the company to extend membership rights to policyholders of current and future subsidiaries of Jewelers Mutual who would not have them otherwise.
“A tangible example of another component of this additional flexibility is that JM Specialty policyholders would become MHC members under the filed plan and be able to vote for members of the board of directors, extending the company’s ‘mutuality’ to more members than is possible today,” Willson said.
JM Specialty Insurance Company, an insurance underwriting company within Jewelers Mutual, is a new insurer that is set to begin writing business later this year.
The planned transition will not affect any of the current coverages, premium rates, loss prevention or claims-handling processes, the company confirmed.
Jewelers Mutual also noted that its board of directors and officers would remain the same and would not receive any additional compensation because of the transition.
And,
policyholders’ right to vote for board members at the company’s annual meeting will remain intact.
The company’s board of directors already has unanimously approved the change and the plan has since been filed with the Wisconsin Office of the Commissioner of Insurance.
If approved by the commissioner’s office, it then goes to existing and eligible policyholders for a vote.
Policyholders will be able to vote by proxy via mail or email, or can choose to attend a special policyholders meeting.
Dates have not been set for the administrative hearing, proxy mailing or policyholder meeting, but the company said it hopes to complete the transition by the end of 2019.
For more information on the plan, policyholders can call 888-884-2424 or visit JewelersMutual.com.
The company’s board of directors already has unanimously approved the change and the plan has since been filed with the Wisconsin Office of the Commissioner of Insurance.
If approved by the commissioner’s office, it then goes to existing and eligible policyholders for a vote.
Policyholders will be able to vote by proxy via mail or email, or can choose to attend a special policyholders meeting.
Dates have not been set for the administrative hearing, proxy mailing or policyholder meeting, but the company said it hopes to complete the transition by the end of 2019.
For more information on the plan, policyholders can call 888-884-2424 or visit JewelersMutual.com.
More on Majors
The Latest
SurveysSep 15, 2025
Resilient Shoppers to Boost Holiday Retail Sales, Says DeloitteIt’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.
SourcingSep 15, 2025
Gemfields Achieves $32M at High-Quality Emerald AuctionIt included the sale of the 11,685-carat “Imboo” emerald that was recently discovered at Kagem.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
SourcingSep 15, 2025
AGTA Elects 8 Members to Board of Directors The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, MontanaAssociate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite EarringsFordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley AwardGilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.
SourcingSep 11, 2025
Need to Sell More Natural Diamonds? De Beers Has an App for ThatThe new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.
SourcingSep 10, 2025
Tech Meets Style in the New Loewe x Jacob & Co. HeadphonesJacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
MajorsSep 08, 2025
MJSA Is Officially Now Under JA’s UmbrellaThe two organizations have finalized and signed the affiliation agreement announced in May.
AuctionsSep 08, 2025
Sotheby’s To Auction ‘Exceptional’ Collection of JAR, Suzanne Belperron JewelsThe single-owner sale will headline Sotheby's inaugural jewelry auction at the Breuer building, its new global headquarters, this December.
Events & AwardsSep 08, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
ColumnistsSep 05, 2025
Peter Smith: A Lasting Lesson From Maurice Tempelsman Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.
CollectionsSep 05, 2025
Piece of the Week: Jamie Turner’s ‘Victoria’ Necklace The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.
Policies & IssuesSep 05, 2025
Trump Takes Tariffs Case to the Supreme Court Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.
WatchesSep 05, 2025
Patrick Mahomes Is the New Hublot Brand AmbassadorThe Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.
