iA Financial Group
iA Financial Group[1] (a.k.a. Industrial Alliance) is one of the largest insurance and wealth management groups in Canada, with operations in the United States. It is one of the biggest public companies in Canada. The parent company, iA Financial Corporation Inc., is a portfolio management company which is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares). The preferred shares of its subsidiary, Industrial Alliance Insurance and Financial Services Inc. are listed on the Toronto Stock Exchange under the ticker symbol IAF.[2]
 Invested in you. | |
 Headquarters, Quebec City | |
| Type | Business Corporation (Quebec) |
|---|---|
| TSX: IAG | |
| Industry | Financial services, Insurance |
| Founded | 1892 |
| Founder | Hormidas Laporte and Bernard Leonard |
| Headquarters | , Canada |
Key people | Denis Ricard (President and CEO) |
| Products | Individual insurance, individual wealth management, group insurance, group savings and retirement, dealer services, general insurance (auto and home) |
Number of employees | 9,200 employees (June 2023) |
| Website | ia |
iA Financial Group companies
Individual insurance
- Industrial Alliance Insurance and Financial Services Inc.
- PPI Management Inc.
- Michel Rhéaume et Associés ltée
Group insurance
- Industrial Alliance Insurance and Financial Services Inc. (employee plans and special market solutions)
- PPI Management Inc.
Individual wealth management
- Industrial Alliance Insurance and Financial Services Inc.
- iA Private Wealth Investment Inc.
- iA Clarington Investments Inc.
- Investia Financial Services Inc.
- Industrial Alliance Trust Inc. (as trustee for several registered plans)
- Industrial Alliance Investment Management Inc.
- PPI Management Inc.
Group savings and retirement
- Industrial Alliance Insurance and Financial Services Inc.
Dealer Services
- Industrial Alliance Insurance and Financial Services Inc.
- SAL Marketing Inc.
- National Warranties MRWV Limited
- Industrial Alliance Pacific General Insurance Corporation
- WGI Service Plan Division Inc.
- WGI Manufacturing Inc.
- Lubrico Warranty Inc.
Auto and home insurance
- Industrial Alliance Auto and Home Insurance Inc.
- Prysm General Insurance Inc.
- iA Advantages Damage Insurance Inc.
- Surexdirect.com Ltd. (majority shareholder)
Auto financing
- iA Auto Financing Inc.
- Industrial Alliance Trust Inc. (as trustee)
U.S. companies – Individual insurance
- iA American Life Insurance Company
- American-Amicable Life Insurance Company of Texas
U.S. companies – Dealer Services
- Dealers Assurance Company
- iA American Warranty, L.P.
- iA American Warranty Corp.
In October 2023, iA Financial Group acquired Vericity, a U.S.-based insurance company, for $170 million.[3]
References
- iA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.
- "Fact Sheet" (PDF).
- "iA Financial Group to Acquire Vericity in $170 million Transaction". Yahoo Finance. 2023-10-03. Retrieved 2023-10-03.
Further reading
- Zelmer, Mark. "Let There Be More Light: Enhancing Public Accountability for Prudential Supervision." CD Howe Institute Commentary 603 (2021).