Axis Capital health unit acquires voluntary benefits provider

Axis Capital Holdings Ltd. on Wednesday said its Axis Accident & Health unit has acquired Phoenix-based voluntary benefits provider Ternian Insurance Group L.L.C.

A spokesman for Princeton, New Jersey-based Axis Accident & Health declined to comment on the terms of the deal.

According to the statement, the deal includes Ternian’s product suite, which includes fixed indemnity limited-benefit medical and pharmacy coverage, employee assistance programs and supplemental products for group life, dental and vision care.

Ternian owners Craig Smith and Tim Cook will continue to manage Ternian’s operations in the Phoenix location, according to the statement.

The spokesman said Ternian will continue to operate under its own name.