Financial protection firm Unum has announced the acquisition of National Dental Plan (NDP) from Capita plc in a deal worth £31.7 million.
The acquisition of the dental insurance provider, which remains subject to regulatory approval, will widen Unum’s portfolio of employee benefits.
The deal will help both Unum and NDP to expand employee benefits to more customers, reach more brokers, and grow the dental market further.
Peter O’Donnell (pictured), UK chief executive officer of Unum, said: “NDP is a great business, and we’re proud to have it become part of Unum. We see NDP as complementary to our existing operations, and Unum will retain NDP’s current management and employees.
“They are vital for implementing our strategic vision for NDP, as well as continuing to deliver NDP’s service to their existing 500 corporate customers and 150,000 insured employees.
“Dental insurance is a natural fit with our existing portfolio, as Unum looks to grow our employee benefits footprint, particularly in the health and wellbeing arena.”
Andrew Bower, managing director of National Dental Plan, added: “Unum’s purchase of NDP creates tremendous potential to expand access to dental insurance through the worksite. We’re excited by the opportunity to broaden the reach of our proposition. This gives firm foundations for the continuity, growth and prosperity of this business.”
