Unum has submitted a proposal to the Office of Competition and Consumer Protection about the takeover of Pramerica Życie TUiR SA.
In January Unum announced it has entered into a definitive agreement to acquire a financial protection provider in Poland, from a subsidiary of Prudential Financial, Inc.
“Growth of the Unum franchise through strategic acquisitions is an important avenue for us,” said Unum President and CEO Rick McKenney. “The purchase of Pramerica Życie opens an opportunity to expand our European footprint into Poland, an attractive market for financial protection benefits. Pramerica Życie is an excellent fit for Unum, with a shared focus of delivering financial protection to individuals and families when they need it most.”
Aneta Podyma-Milczarek, president of Pramerica Życie, said she expects the financial stability, high quality products, and strong professional relationships the business has built over the last 20 years will continue to grow with the new owner.
“Over the past 20 years, Pramerica Życie with our current shareholder PFI created a successful and highly recognized company in the Polish market,” Podyma-Milczarek said. “We are proud to become a part of Unum and look forward to further developing our offering using the extensive experience and innovative solutions of our new shareholder. Most important, we will continue to offer our clients protection for what is most valuable for them: their lives and health.”
Unum is one of the leading providers of employee benefits products and services, and the largest provider of group and individual disability income protection insurance in the United States and United Kingdom.
