Industrial-Alliance Joins the TSE 300, TSE 200 and S&P/TSE Canadian Midcap Indices
It Would Rank about 115th on the TSE 300 Listing
The Industrial-Alliance Life Insurance Company welcomes the announcement of its inclusion in the TSE 300, TSE 200 and S&P/TSE Canadian MidCap indices following the close of trading today.
"We are very pleased that Industrial-Alliance is being added to these three indices," declared Yvon Charest, the Company´s President and Chief Executive Officer. "Our inclusion on these indices shows the size and importance of Industrial-Alliance on the Canadian stock market as well as in the life and health insurance and financial services sectors. Joining the ranks of the top share issuers in Canada will also allow us to raise our profile, which should add to the liquidity of IAG shares."
Industrial-Alliance made its official entry on the Toronto Stock Exchange after it completed its demutualization process and became a capital stock company in February 2000. Since then, the price of the Company´s shares has increased from the $15.75 IPO price to $33.50 following the close of trading yesterday. The Company´s market capitalization is currently at $1.3 billion, which would rank Industrial-Alliance about 115th among the companies listed on the TSE 300. Industrial-Alliance currently has 37.6 million common shares outstanding.
Industrial-Alliance´s success results from a combination of factors. It is a leader in individual life insurance, where it ranks second in Canada in terms of new sales. It is also known for the size and diversity of its distribution networks, its high and consistent profitability, the vitality of its network of subsidiaries, the quality of its investments and its growth-based development strategy. "With such solid bases, our growth potential over the next few years is most promising," concluded Mr. Charest.
With more than a century of experience, Industrial-Alliance is a life and health insurance company that offers a wide range of insurance products and financial services. It has operations throughout Canada, either directly or through its subsidiaries, the Industrial Alliance Pacific (Vancouver) and the National Life of Canada (Toronto). Industrial-Alliance also owns a general insurance company, the Industrial-Alliance Auto and Home Insurance. With over $13.5 billion in assets and funds under management, Industrial-Alliance is the seventh largest life and health insurance company in Canada.
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