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Vancouver-based Subsidiary of Industrial Alliance Merges with Parent Company
QUEBEC CITY, Sept. 12, 2011 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance") announces the merger of its subsidiary, Industrial Alliance Pacific Insurance and Financial Services Inc. ("Industrial Alliance Pacific"), with its own operations.
Headquartered in Vancouver, British Columbia, Industrial Alliance Pacific offers services in individual insurance, wealth management, creditor insurance and special market risks. After the combination, these operations will continue under the Industrial Alliance banner and will remain based in Vancouver.
The merger, which will be completed by June 30, 2012, will consolidate regulatory compliance with respect to enterprise risk management and other reporting requirements, as well as provide a more efficient structure for capital management. The merged operations will be regulated by the Autorité des marchés financiers. (www.lautorite.qc.ca)
This transaction is subject to the usual regulatory approvals.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services
Inc. is a life and health insurance company with operations in all
regions of Canada as well as in the United States. The Company 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 for both individuals and groups. The fourth largest life and
health insurance company in Canada, Industrial Alliance contributes to
the financial security of over three million Canadians, employs more
than 3,900 people and manages and administers more than $70 billion in
assets. Industrial Alliance stock is listed on the Toronto Stock
Exchange under the ticker symbol IAG.
SOURCE INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC.
For further information:
| Grace Pollock Investor Relations Office: 418 780-5945 Email: grace.pollock@inalco.com | Pierre Picard Media Relations Office: 418 684-5000, extension 1660 Email: pierre.picard@inalco.com |
Profil de l'entreprise
INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC.
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