Exhibit 23.1


              CONSENT OF ERNST & YOUNG, LLP, INDEPENDENT AUDITORS

We consent to 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, Form S-8
No. 333-81669 and Form S-8 No. 333-81969) 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 Purchase 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, The
Paul Revere Savings Plan, Provident Companies, Inc. Stock Plan of 1999,
Provident Companies, Inc, Non-Employee Director Compensation Plan of 1998,
Employee Stock Option Plan of 1998, Amended and Restated Annual Management
Incentive Compensation Plan of 1994, the UNUMProvident Corporation 1987
Executive Stock Option Plan, UNUMProvident Corporation 1990 Long-Term Stock
Incentive Plan, UNUMProvident Corporation Plan 1996 Long-Term Stock Incentive
Plan and UNUMProvident Corporation 1998 Goals Stock Option 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 2, 1999 with respect to the consolidated financial statements and
schedules of UNUMProvident Corporation and subsidiaries for the three years
ended December 31, 1998, included in its Current Report on Form 8-K dated August
31, 1999 filed with the Securities and Exchange Commission.

/s/ ERNST & YOUNG, LLP

Chattanooga, Tennessee
August 2, 1999