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ai merges two entities

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25 September 2019 11:39

More than ten years after the acquisition, iA financial Group announces that it intends to merge its entities, The Excellence life insurance Company andIndustrial Alliance Insurance and financial services.

The merger, which is expected to enter into force on January 1, 2020, are subject to the approval of the minister of Finance of Québec, ” on a favourable recommendation of theAutorité des marchés financiers , “says ai.

The merger will not have an impact on the 175, 000 clients of The Excellence, “says ai, who” will respect the commitments made by Excellence “. The group also argues that the merger “will have no or little direct impact” on the 173 employees of Excellence.

“We gather under the brand name ai Group financial insurance activities of people of Excellence and ai Insurance. The integration of the operations of the two companies will allow for operational efficiencies and facilitate continuous improvement for a customer experience more simple and experience advisor for a more fluid, offering a single way of doing business with iA financial Group, ” says Renée Laflamme, vice‑president, executive, insurance, savings and individual retirement at iA financial Group.

Acquired in 2008

ai had acquired The Excellence in 2008, allowing him to invest in the market disability insurance, and individual disease. Excellence held a income gross premiums of $ 90 million and its activities were concentrated in Quebec. Today, the company operates across the canadian market and its premium income gross is $ 135 million.

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