The Company Creates a Million Dollar Fund for Learning a Second Language
QUEBEC CITY, Feb. 3 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. marks the tenth anniversary of its listing on the Toronto Stock Exchange today, February 3, 2010. Industrial Alliance has made steady progress and major breakthroughs in the last ten years: entry into the wealth management market, growth outside Quebec and entry into new markets. To mark the tenth anniversary of its listing on the Toronto Stock Exchange and all the progress it has made in the last decade, Industrial Alliance announced the creation of a million dollar fund for learning a second language.
"We are very pleased to mark our ten years on the Toronto Stock Exchange and to share our success by creating a fund for young people," said Yvon Charest, President and Chief Executive Officer. "Young people represent the future. The fund will allow them to improve their second language skills. It will help them in their careers and will foster exchanges and dialogue between young people in different regions of the country. We believe that this fund will be a good source of learning and confidence-building for young people."
When it was listed on the Toronto Stock Exchange on February 3, 2000, Industrial Alliance was primarily known as an insurance company that carried out most of its operations in Quebec. Since then, the Company has made major breakthroughs, three of which result in it to being recognized as a Canada-wide financial institution today: entry into the wealth management sector, primarily the mutual funds and securities market, through sixteen acquisitions; growth outside Quebec, thanks to the opening of offices and the strengthening of sales networks across the country; and entry in new markets, namely individual health and disability insurance, Socially Responsible Investing funds and the US market, through various acquisitions.
The newly-created fund, Industrial Alliance Fund for Learning a Second Language, is designed to encourage young Canadians to learn a second language. The one million dollar fund will be used to offer scholarships for immersion stays or school sessions sponsored by secondary, college or university level institutions across the country. These scholarships are intended for French students who want to perfect their English and English students who want to improve their knowledge of French.
"You could say that since its listing on the Toronto Stock Exchange, Industrial Alliance has gone from a mutual company to a stock company, from a Quebec company to a Canada-wide company and from an insurance company to a financial institution," concluded Yvon Charest. "Also, between February 3, 2000 and February 2, 2010, the Company's stock has grown 309%, compared to growth of 31% for the S&P/TSX index of the Toronto Stock Exchange. Industrial Alliance has thus passed the ultimate challenge for all public corporations: increasing long-term shareholder value."
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services. The fourth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group, which has operations in all regions of Canada, as well as in the United States. Industrial Alliance contributes to the financial wellbeing of over three million Canadians, employs more than 3,400 people and manages and administers over $56 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
SOURCE Industrial Alliance Insurance and Financial Services Inc.
For further information: For further information: Jacques Carrière, Vice-President, Investor Relations, Office: (418) 684-5275, cell: (418) 576-3624, email@example.com; www.inalco.com