Jewelers Mutual acquires Canada’s CJB Insurance Services

Jewelers Mutual acquired CJB Insurance Services, a Canadian specialty brokerage focused on jewelers block insurance, expanding its presence in the Canadian jewelry insurance market.

Founded in 1998, Toronto-based CJB specializes in insurance for jewelers and other niche businesses, including fine art dealers, pawn shops, and tattoo studios. The brokerage serves customers across Canada and will continue operating while being integrated into Jewelers Mutual.

Jewelers Mutual said the acquisition will give CJB customers access to a broader range of insurance products, business solutions, and technology while maintaining existing service and coverage.

The deal strengthens Jewelers Mutual’s Canadian footprint following its acquisition of event insurance provider EventGuard earlier this year, further expanding the mutual’s portfolio beyond traditional jewelry insurance.

The acquisition is consistent with themes explored in Coverager’s recent Hidden Gems report, which argued that Jewelers Mutual is increasingly using acquisitions and partnerships to expand beyond its traditional jewelry insurance franchise.

Bottom Line: The risk for Jewelers Mutual isn’t today’s competitors—it’s tomorrow’s. Unlike pet insurance, which has seen multiple new underwriting platforms emerge over the past decade, jewelry insurance has not produced a significant new full-stack insurer. Whether AI lowers the barriers to entry enough to change that remains an open question.