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 Insurance
Company 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 May 12, 1999 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 March 31, 1999.

   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
June 2, 1999