Unum completes purchase of Louisiana-based Starmount Life

By a News Reporter-Staff News Editor at Health & Medicine Week -- Unum (NYSE: UNM) has completed its purchase of H&J Capital, LLC, parent of Starmount Life Insurance Company and AlwaysCare Benefits ("Starmount"), a leading independent dental and vision benefits company that will support Unum's long-term growth plans for workplace financial protection products (see also Unum).

"We are excited to welcome Starmount to the Unum family and to establish Baton Rouge as our center of excellence for the dental and vision market," said Unum President and CEO Rick McKenney. "This is an excellent fit for both our Unum US and Colonial Life businesses and is an important component of our long-term strategic growth plan."

Unum is a leading nationwide provider of financial protection benefits at work, including disability, life and supplemental health products. Starmount covers more than 940,000 lives nationally, manages in-force annualized premium in excess of $180 million and has access to significant national dental and vision networks.

"We see strong demand for dental and vision insurance in the market today," said Unum US President Mike Simonds. "Starmount's solid products and networks, combined with Unum's scale and capabilities, will help us create real value for our clients and expand access to financial protection benefits in the workplace."

Founded by the Sternberg family in 1983, Starmount will remain headquartered in Baton Rouge, La., with a leadership team including CEO Erich Sternberg and President Deborah Sternberg and a staff of more than 220 employees.

"We are glad to be part of the Unum family and look forward to helping provide greater access to dental and vision insurance at the workplace and to consumers," said Starmount CEO Erich Sternberg. "We have ambitious growth plans and share Unum's focus on providing exceptional service, innovative products and thoughtful solutions for our customers."

Keywords for this news article include: Unum, Dentistry, Investment and Finance.

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