CAPITA has agreed to sell dental insurance provider National Dental Plan (NDP), to Unum Group for £31.7m in cash, the FTSE 100 outsourcer said yesterday.
NDP provides dental insurance through the workplace to over 500 major firms and 150,000 insured employees. It was acquired by Capita in 2010 for £30m.
The sale, which is still subject to regulatory approval, will help US-based Unum to expand its portfolio in the UK after first entering the market with the launch of Sick Pay Insurance in 2013.
Unum’s UK chief executive, Peter O’Donnell, said: “NDP is a great business, providing market-leading dental insurance through the workplace, 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,” he added.