Unum Dental is taking over the UK dental business of global health services provider Cigna, having secured the relevant renewal rights for an undisclosed sum.
Lifting the lid on the divestment, Cigna said in a statement sent to Insurance Business: “This decision aligns with Cigna Healthcare’s strategy to deepen its focus on global healthcare and health services, including its UK international health business, which is unaffected by this decision.
“Cigna will continue to serve the health needs of the globally mobile individuals, corporations, IGOs (intergovernmental organisations), NGOs (non-governmental organisations), as well as providing targeted health offerings across the globe.”
Unum Dental, meanwhile, will boost its standing as a dental insurer that provides coverage to nearly 270,000 employees.
“We are investing and growing in areas that reflect the needs and requirements of our customers and broker partners, and dental insurance is a key driver of our strategy and ambitious growth plans,” Unum UK chief distribution officer Glenn Thompson said in an emailed release.
“Unum’s average payout per claim rose by 24% between 2021 and 2022, signifying the upward pressure on a range of everyday costs, including essential healthcare expenditure. We are one of the UK’s leading employee benefits providers and will be ensuring a smooth transition for new dental customers.”
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