Industrial Alliance Completes Merger of Vancouver-based Subsidiary
QUEBEC CITY, July 3, 2012 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance") announces that it has completed the previously-announced merger of its subsidiary, Industrial Alliance Pacific Insurance and Financial Services Inc. ("Industrial Alliance Pacific"), effective June 30, 2012.
The former Industrial Alliance Pacific operations, which continue to be based in Vancouver, will now operate under the Industrial Alliance banner. It continues to offer services in individual insurance, wealth management, creditor insurance and extended warranties, and special market risks.
The integration of the Vancouver-based subsidiary with the parent company consolidates regulatory compliance and provides a more efficient structure for capital management. Industrial Alliance is regulated by the Autorité des marches financiers. (www.lautorite.qc.ca)
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 wellbeing of over three million Canadians, employs 4,200 people and manages and administers more than $75 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.