Unum launching New England dental coverage through $127M acquisition
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The Unum Group has more than 500 employees in Worcester.
Unum will be launching its own dental coverage offerings throughout the Northeast following the $127-million acquisition of a Louisiana insurance company.
The acquisition of H&J Capital, LLC, parent of Starmount Life Insurance Co. and AlwaysCare Benefits was completed on Monday by the Tennessee-based Unum insurance group, which has more than 500 employees in Central Massachusetts and an office in downtown Worcester.
The acquisition will allow the company to offer dental insurance, which it has previously offered through partnerships with other companies, to offer its own dental coverage nationwide.
Starmount covers more than 940,000 people nationally, manages in-force annualized premium in excess of $180 million and has access to significant national dental and vision networks, according to Unum.
Starmount will become the fourth brand under the Unum Group umbrella. Unum Dental and Unum Vision products will be underwritten by Starmount and introduced to the market in 2017. Colonial Life Dental and Vision will be introduced in 2018. The products will make their way to New England and the Northeast beginning in 2018.
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