2025 annual report
Supporting the jewelry industry, protecting our customers, and giving back in our communities.
At Jewelers Mutual, our purpose has remained clear for more than a century: to protect the jewelry industry and the people who depend on it. Founded by jewelers for jewelers, our company exists to serve as a trusted advisor and solutions provider to the industry, supporting its resilience, growth, and long-term success. What continues to evolve is how we deliver on that promise in a world defined by constant change.
Change is often viewed as a challenge, but I believe it is also a gift. If the future were certain, those with the greatest scale and resources would always win. Instead, change rewards organizations that stay close to the industries, customers, and communities they serve. The ability to listen, adapt, and invest, especially when outcomes are not fully defined, levels the playing field and creates opportunity.
Customer focus has been the foundation of Jewelers Mutual’s success. In 2025, we leaned even further into understanding where customer expectations are evolving and allowed emerging and unmet needs to guide our priorities. Leaning into these moments of change sharpened our focus and accelerated progress. When paired with curiosity and a sense of urgency, it empowers teams to move decisively and invest in what comes next.
Innovation continues to be central to our growth and the value we deliver to our customers and industry. We are intentionally integrating technology, data, and analytics across our products and services to deliver more personalized, efficient, and relevant experiences. Technology itself is not the objective; it is an enabler that helps us better anticipate needs, simplify experiences, and create space for stronger human connection and trust.
Culture and internal alignment shape how we plan and execute each year. We emphasize clarity around our goals and the purpose behind them, foster collaboration across teams and locations, and encourage continuous learning and improvement. When teams understand how their work connects to customer impact, they are empowered to move with agility and purpose.
As we reflect on 2025, I want to sincerely thank our employees, agents, and industry partners for their dedication, hard work, and commitment. Together, we strengthened our company, better served our customers and jewelry industry, and laid important groundwork that positions us well for the year ahead and beyond.
Looking to 2026, I am energized by the opportunities in front of us. The initiatives we have set in motion will help us deliver even better experiences and continue building the capabilities that make Jewelers Mutual unique. I am confident that, together, we are well prepared to navigate change and make the future another strong chapter in our shared story.
Thank you for all you do and for the role you play in our continued success.
Chief Executive Officer
Jewelers Mutual Group
Our people and achievements
Our progress is driven by a proven, forward-thinking leadership team and a shared commitment to professional excellence. This year, we strengthened our executive bench by welcoming Chris Anderson as CFO and promoting Mike Alexander to President. Our leaders also play an active role in advancing industry dialogue and innovation. Scott Murphy joined the Forbes Business Council, while John Kreul further elevated our technology leadership, earning the Wisconsin ORBIE CIO Award and being featured in InformationWeek and CIO for his contributions to digital transformation.
We continue to invest in growth and connection by expanding our footprint with a new office in Raleigh, North Carolina, and by becoming the Official Jewelry Insurance Sponsor of NC State Athletics, reinforcing our commitment to the communities and markets we serve.
These milestones were complemented by continued recognition for financial strength, performance, and workplace culture. We maintained our AM Best A+ Superior rating for the 39th consecutive year and were named to the Ward’s 50, Deloitte Wisconsin 75™, and Fastest Growing Companies of Northeast Wisconsin lists for multiple years running. Our culture and values were further affirmed through Great Place To Work Certification™ and an Inc. Power Partner designation.
Individual honors underscored the depth of expertise across our organization, including CEO Scott Murphy’s recognition as a 2025 WI Titan 100 honoree and member of the Wisconsin 275, our editor-in-chief of Gem+Jewel™ magazine, Emili Vesilind’s GEM Award nomination for media excellence, and our designation as a finalist in the Ragan PR Daily Awards for thought leadership communications. Together, these achievements reflect the strength of our people and our continued momentum as an industry leader.
Our commitment
We continue to prioritize strategic growth and providing innovative solutions to meet the evolving needs of the jewelry industry and our customers. In 2025, we broadened our global and domestic reach through notable acquisitions: Jewellers Loop, a general agency operating throughout Australia, and the personal jewelry business of JIBNA. These additions have strengthened our ability to serve more customers with more solutions. We also enhanced jeweler operations by integrating GIA diamond grading and Gemworld pricing into our Jewelry Appraisal Solution, streamlining the valuation process and improving efficiency for jewelry retailers.
Our commitment to industry leadership extends beyond product innovation into research, data, and education. Findings from our 2025 Collectibles Study identified jewelry as the top-ranking category for collectors, while our Travel and Watch studies delivered actionable consumer insights, including travel data featured in USA Today. We further supported industry education by sponsoring NYC Jewelry Week and bringing financial expert, Mrs. Dow Jones, to share insights on jewelry’s evolution from adornment to asset, helping elevate conversations around protection, value, and long-term ownership. Additionally, as education sponsor of the Frazier History Museum’s Love & Marriage exhibition in Louisville, KY, we reinforced the cultural and historical significance of jewelry.
When our industry and customers faced hard times, we remained steadfast in our support, providing assistance to those impacted by the LA wildfires as one example. Through continued investments in expansion, innovation, research, and advocacy, we are strengthening the foundation of the jewelry industry and advancing its future with purpose and resilience.
Our work
Our commitment to innovation and collaboration continues to enhance the value we deliver to strategic partners, the industry, and our customers. This year, Jewel360’s integration with the Luxsurance™ app and the launch of the JM Shipping Solution for Shopify stores streamlined operations and enhanced convenience across the jewelry ecosystem—simplifying workflows for retailers while improving the customer experience end to end. Strategic collaborations with such businesses as Orion180, Synchrony, Ben Bridge, Ritani, and Helzberg further expanded access to protection, financing, and care plan solutions, empowering homeowners and retailers alike with comprehensive coverage, maintenance, and repair options tailored to evolving needs.
Risk management is central to our strategy, supported by our expert Asset Protection team. By investing in crime awareness, prevention, and reduction efforts—including leading the Crime Reduction Coalition and implementing strategies for risk alerts, security measures, and protocols—we are enhancing the industry's safety, resilience, and readiness overall.
Our social responsibility
For more than 110 years, Jewelers Mutual has been a trusted leader in the jewelry industry, guided by a deep-rooted commitment to giving back. Each year, we invest millions to support the jewelry industry and the communities we serve through scholarships, charitable giving, and educational initiatives—advancing opportunity, resilience, and long-term impact.
Our efforts are brought to life through the Jewelers Mutual Impact Fund, which focuses our giving across three core pillars:
- Industry: Investing in the future of the jewelry industry through educational scholarships, industry associations, and innovation programs that strengthen talent pipelines and support sustainable growth.
- Community: Supporting local organizations and employee volunteerism, amplified through matching gifts and strategic partnerships that create meaningful, lasting community impact.
- Impact Investments: Making long-term, scalable investments in education, technology, and innovation to address the industry’s most pressing challenges while benefiting the broader communities we serve.
Supporting the next generation remains a cornerstone of our social responsibility efforts. We believe in the importance of every individual having access to the resources, opportunities, and encouragement needed to succeed.
This year, we continued our multiyear capital campaign commitment to the Boys & Girls Club of Neenah, funding the Art Learning Center to create a dedicated space for creativity and arts education. We also collaborated with the Kids In Need Foundation, donating more than 4,000 backpacks and essential school supplies to students in Dallas, Raleigh, and Miami—helping remove practical barriers to learning for underserved families.
Beyond the classroom, our investments extend to leadership development and specialized education. We supported the Girl Scouts of the Northwestern Great Lakes, where the Reaching Out Program delivered leadership experiences to more than 400 individuals across schools and community sites. Our commitment to creative education continued through the BergstromMahler Museum of Glass, providing more than 150 students from 16+ high schools with professional tools, instruction, and exhibition opportunities. In our growing Raleigh community, we also supported organizations such as the Frankie Lemmon Foundation and 321 Coffee, both of which advance inclusion and empowerment for individuals with developmental and special needs.
We believe a vibrant arts and cultural landscape is essential to building connected, engaged communities. This year, we supported the Trout Museum of Art’s capital campaign, Broadway programming and youth initiatives at the Fox Cities Performing Arts Center, and year-round programming and school field trips at the Paine Art Center and Gardens. Our partnerships with the Fox Valley Symphony Orchestra and the South Florida Symphony Orchestra further expanded access to youth education and cultural experiences, helping ensure creativity and cultural expression remain accessible within the communities we serve.
Financial strength
Our financial strength is underscored by our 39th consecutive A+ Superior rating from AM Best (as of November 2025), reflecting stability and reliability. Through sustainable growth strategies, we have consistently expanded our operations, earning recognition among the 2025 Fastest Growing Companies of Northeast Wisconsin. This commitment to financial excellence allows us to invest confidently in our communities and industry initiatives.