(NEENAH, Wis.) - A.M. Best Company recently announced that it has assigned a 26th consecutive financial strength rating (FSR) of “A+ Superior” to Jewelers Mutual Insurance Company, which in 2013 is celebrating its 100th year in business. The insurer specializes exclusively in providing protection to jewelry businesses and jewelry consumers. It has upheld its “A+ Superior” designation throughout a period spanning the past quarter of a century.
A.M. Best, the insurance industry’s provider of financial data and credit ratings, also assigned a rating of “Stable” to Jewelers Mutual’s financial outlook for the future.
“In light of our significant investments over the last 18 months to comprehensively upgrade our technology platform, which drove a business transformation, this affirmation from A.M. Best speaks volumes. Jewelers Mutual has maintained superior financial strength and a posture for future stability even while committing considerable financial resources toward systemic improvements,” said Darwin Copeman, Jewelers Mutual president and CEO. “This means we’ve maintained the financial wherewithal to protect our customers while also enhancing the tools and technologies with which to serve them even better in the years ahead,” Copeman said.
“As we celebrate our centennial, we are looking forward to continued excellence throughout our next 100 years. We will continue to prove our position as the jewelry industry’s leading insurer and we’ll live up to that reputation in everything we do - whether through paying claims, investing in the jewelry industry as a whole, or protecting the thousands of members of the industry through our robust loss-prevention programs,” Copeman added.
Jewelers Mutual’s consistent underwriting profits, positive cash flow from operations, and a stable stream of net investment income drive the company’s profitable results. In addition, well diversified investments limit the company’s exposure to unpredictable financial markets. Jewelers Mutual Insurance Company is debt-free.
Jewelers Mutual Insurance Company states they are the only company specializing exclusively in jewelry insurance in the United States and Canada. Jewelers Mutual was founded in 1913 in Neenah, Wisconsin, by jewelers seeking to meet their unique insurance needs. Today, Jewelers Mutual is the leading insurer of retail jewelers in North America and also insures wholesalers, manufacturers, custom designers, repair businesses, bench jewelers, and appraisers.
Approximately 10,000 commercial policyholders insure their jewelry businesses with Jewelers Mutual. Additionally, more than 270,000 individuals trust Jewelers Mutual to protect their jewelry possessions with Jewelers Mutual’s Perfect Circle® Jewelry Insurance product. These individuals collectively carry in excess of $4 billion in personal jewelry insurance coverage. Visit the Jewelers Mutual website at www.JewelersMutual.com to learn more.