Industrial Alliance Announces Senior Management Appointments

QUEBEC CITY, April 20 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. announced today a number of senior management appointments to support the company's development strategy and enrich the senior management team by giving new responsibilities to experienced young managers.

"These appointments add depth to our business development team and give our managers the chance to increase their knowledge of the company and put their talent to work in new business lines," said Yvon Charest, President and CEO. "We have the opportunity to benefit from a young, experienced, versatile and dynamic management team. Each person we appointed stands out through their leadership and was the driver behind the success of their business line. I'm confident that they'll use their talent and skills to meet new challenges and take Industrial Alliance to the next level."

Here are the appointments announced today. They take effect immediately.

Denis Ricard, currently Senior Vice-President and Chief Actuary, is named to the new position of Senior Vice-President of Business Development. Mr. Ricard will be in charge of special development mandates in personal financial services. This sector experienced significant growth over the past few years, and the company would like to add new resources to take advantage of the multiple opportunities available to it. Mr. Ricard will report to Normand Pépin, Executive Vice-President for the Individual Insurance and Wealth Management sectors. Age 48, Mr. Ricard has a degree in actuarial sciences from Laval University and is a Fellow of the Canadian Institute of Actuaries and the Society of Actuaries. He joined Industrial Alliance in 1985. After positions in actuarial services and IT at the company's head office in Quebec City and its subsidiary in Vancouver, Mr. Ricard was Director of Actuarial Services and Assistant Vice-President of Marketing for Individual Insurance and Annuities. Among his achievements as Chief Actuary, Mr. Ricard enabled Industrial Alliance to come out of the recent economic crisis with improved financial strength thanks to sound management of provisions for future policy benefits and capital, and the role he played in managing the company's risks.

René Chabot, currently Senior Vice-President of Group Pensions, is named to the position of Senior Vice-President and Chief Actuary. Mr. Chabot will be responsible for the actuarial, accounting and investor relations teams. He will also act as Chief Financial Officer and will continue to be chairman of the company's pension plans. Mr. Chabot will report to Yvon Charest, President and CEO. Age 48, Mr. Chabot has a degree in actuarial sciences from Laval University and is a Fellow of the Canadian Institute of Actuaries and the Society of Actuaries. He joined Industrial Alliance in 1983. Mr. Chabot was Director of Actuarial Services and Assistant Vice-President of Marketing for Individual Insurance and Annuities. Among his achievements in Group Pensions, Mr. Chabot was at the source of the sector's expansion across Canada and major growth over the past few years, particularly in the accumulation products segment. The strong sales team he built enabled new group pension plan sales to increase from some $5 million about twelve years ago when Mr. Chabot joined the department, to more than $500 million today.

Renée Laflamme, currently Vice-President of Mortgage Loans, is named Vice-President of Group Pensions. Ms. Laflamme will report to Michel Tremblay, Executive Vice-President of Investments. Age 43, Ms. Laflamme has a Bachelor of Administration from Laval University and is a chartered accountant and chartered financial analyst. After ten years with a large accounting firm, Ms. Laflamme joined Industrial Alliance in 1998, as Director of Client Services for the Investment Department. In Mortgage Loans, Ms. Laflamme was given the first-ever mandate to develop mortgage loan activities across Canada and in the Northwestern United States. Among her achievements, Ms. Laflamme helped increase mortgage loan assets, for the company and for third party accounts, from $3.5 billion in 2004 to $6.3 billion in 2009.

To support Ms. Laflamme in her new duties, Lucie Lachance, currently Director of the Actuarial and Marketing Department for Group Pensions, was promoted to Senior Director of Actuarial, Marketing and Administration Services. Age 41, Ms. Lachance has a degree in actuarial sciences from Laval University and is a Fellow of the Canadian Institute of Actuaries and the Society of Actuaries. She joined Industrial Alliance in 1991. Ms. Lachance has more than 15 years of experience in Group Pensions, where she improved communication tools for plan participants and sponsors; these tools are essential for business development in the accumulation products segment.

Michel Tremblay, in his capacity as Executive Vice-President of Investments, will supervise activities in the Group Pensions sector and be responsible for the company's financing activities.

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 across the country, 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 $58 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.

For further information: Jacques Carrière, Vice-President, Investor Relations, [phone], Cell: [phone], [email protected]; www.inalco.com