EXHIBIT 15

Board of Directors and Shareholders
Provident Companies, Inc.


We are aware of the incorporation by reference in the Registration Statements
(Form S-8 No. 33-47551, Form S-8 No. 33-88108, Form S-8 No. 33-62231 and Form S-
8 No. 333-40219) of Provident Companies, Inc. pertaining to the Provident Life
and Accident Insurance Company MoneyMaker, A Long-Term 401(k) Retirement Savings
Plan, the Provident Life and Accident Insurance Company Stock Option Plan of
1994, the Provident Life and Accident Insurance Company Employee Stock Purchase
Plan of 1995, the Provident Life and Accident Management Incentive Compensation
Plan of 1994 and The Paul Revere Savings Plan, and in the Registration Statement
(Form S-3 No. 333-17849) of Provident Companies, Inc. for the registration of
9,523,810 shares of its common stock of our report dated August 12, 1998
relating to the unaudited condensed consolidated interim financial statements of
Provident Companies, Inc. which is included in its Form 10-Q for the quarter
ended June 30, 1998.

Pursuant to Rule 436(c) of the Securities Act of 1933, our report is not a part
of the registration statements prepared or certified by accountants within the
meaning of Section 7 or 11 of the Securities Act of 1933.



                                            ERNST & YOUNG LLP

Chattanooga, Tennessee
August 12, 1998

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