The Guardian Life Insurance Company of America is buying Premier Access Insurance Co. in the latest insurance deal.
Premier Access, headquartered in Sacramento, Calif., provides dental coverage and care to employers and individuals. The company serves more than 5,000 employer plans and operates 18 dental centers. Terms of the deal were not disclosed.
New York-based Guardian expects the deal to strengthen its dental preferred provider organization and dental health maintenance organization network in California, Utah, Nevada and Arizona. The deal also extends Guardian's reach into the Medicaid and children's health insurance program markets, which are expected to grow because of expanded eligibility under the Affordable Care Act.
The transaction comes as the insurance industry continues to consolidate.
Other recent insurance deals include Marsh & McLennan Agency LLC's purchase of Capstone Insurance Services LLCin April, and Confie Seguros' March acquisition of Ida Tunnell Insurance.