UnumProvident Corp. announced in January 2007 that it would change its name to Unum Group, closing the book on the 120-year history of what had been the Provident Life & Accident Insurance Co.
Unum and Provident had merged in 1999, forming UnumProvident Corp. Unum CEO Tom Watjen said that while the name of the company would change, there were no plans to move the company headquarters from Chattanooga, where Unum had about 3,000 employees.
Watjen said the change was “all about positioning and marketing,” adding that “in many respects, it’s a new company.”
Veteran Provident executive Jim Althaus said he was “sorry they see fit to drop” the Provident name, which he said was well-regarded in the insurance industry.