The Industrial Alliance
is an insurance company
based in Quebec that serves the whole of Canada.
It is the fourth largest life and health insurance
company in Canada with operations throughout Canada. It administers and manages $49 billion of assets with over 3 million customers in Canada. It employs 3,200 people.
The Industrial Alliance Trust Inc, the parent company of the Industrial Alliance group is a widely held public limited company listed on the Toronto Stock Exchange, as it was one of the life insurance firms that demutualized in 2000 and so many of the policy holders have kept their shares. Its ticker symbol is IAG. It initially had 700,000 shareholders although many of these sold fairly quickly.
Industrial Alliance generally offers the same sorts of services that other life insurance
companies, such as health insurance, life insurance and annuities. It also offers general insurance products such as auto insurance
and home insurance
to the personal consumer markets. They also offer mutual funds and other investment vehicles as well as mortgages. It is strong in the supplier creditor insurance for automobile dealerships and due to acquisitions is the only company offering this type of insurance to have a distribution network throughout Canada.
Industrial Alliance Immigrant Investor Program
Industrial Alliance is the approved financial intermediary for both the Quebec Immigrant Investor Program and the Canada Immigrant Investor Program which is run on the federal level. This aims to attract wealthy non residents to both live and invest in Canada.
Industrial Alliance Mergers
Industrial Alliance has had a series of aggressive acquisitions in recent years. Companies that have merged with it or sold liabilities include Mécagroupe, Aegis, Seaboard Life, North West Life Assurance, National Life and The Solidarity.
Leduc International has been an exclusive agent of Industrial Alliance since 2005. It is one of the most prominent specialists in the various programs designed to attract wealthy investors into Canada, the most recent of which was the Immigrant Investor Program.
IA American is the name of the United States subsidiary of the Industrial Alliance. It has a presence in the west of the United States, particularly California and Oregon. It is a focused company that offers Universal Life Assurance, Term Life Assurance and Annuities.
Industrial Alliance Pacific
Industrial Alliance Pacific is the West Coast arm of Industrial Alliance and grew from its acquisition of North West Life Assurance. It is based in Vancouver and is the largest insurance company with a head office west of Manitoba and operates in the western provinces and Manitoba. It is the market leader in selling insurance products to automobile dealers. It is the company within the Industrial Alliance group that will be responsible for developing products for the “special risks” markets, for associations, students and employers.
Industrial Alliance Securities Inc. - Industrial Alliance set up a stock broking division in 2002 through the acquisition of ISL-Lafferty and some parts of Leduc and BNP (Canada).
Investia Financial Services Inc.
Investia was founded by Industrial Alliance in 1988 and became active as a distributor of mutual funds in 1999. Since 2001 it acquired a number of mutual funds dealers including the mutual funds arm of the Co-Operators
. Industrial Alliance is aiming to get stronger in the wealth management sector.
Industrial Alliance History
Industrial Alliance takes its name from two Quebec based insurers, Alliance Nacionale founded in 1892 and the Industrial Life Insurance Company founded in 1905. They both became mutual companies in the post war period, with Alliance Nacionale going mutual in 1948 and Industrial Life going mutual in 1969. They merged in 1987 and demutualized as one company in 2000.
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