Industrial Alliance Awarded the Multi-Employer Pension Plan for Many Nations
The Group Pension Division of Industrial Alliance Insurance and Financial Services Inc. is pleased to announce that it has been chosen by Many Nations as the supplier for its Multi-Employer Pension Plan. Many Nations Financial Services Ltd. is a subsidiary of Many Nations Benefit Co-operative, the largest Indigenous Employee Benefit Co-operative in Canada. The pension plan to be administered by Industrial Alliance has more than $87 million in assets under management and 6,000 employees.
The choice of Industrial Alliance as a service provider is the end result of a long, fruitful process. Judy Liland, President of Many Nations Financial Services Ltd. and the Plan Manager for the Multi-Employer Plan said, "We conducted an exhaustive search over eight months with multiple presentations and on-site visits with various providers in order to find the best possible solution to meet our unique needs. Industrial Alliance became the clear leader through their willingness to adapt their systems, service practices and marketing. They came up with innovative solutions to enhance our plan for our Indigenous groups and their participating members. They clearly demonstrated a very customer-focused approach that works well with our customer service commitment."
Members from all of Industrial Alliance’s Group Pension Sales, Marketing, Administration and Customer Service teams participated in the process. The goal was to ensure an in-depth understanding of Many Nations and its mission, in order to offer Many Nations customized services. "I think we succeeded in showing our great ability to adapt to the needs of our clients," said René Chabot, Senior Vice-President of the Industrial Alliance Group Pension Division. "Our mission is to offer all clients innovation, flexibility, accessibility and quality service."
This agreement has great significance for Many Nations and for Industrial Alliance because of its size and growth potential. Ms. Liland said, "We’re seeking to establish a long-term relationship with Industrial Alliance. We wish to extend Industrial Alliance’s excellent service to other Indigenous groups across Canada."
Mr. Chabot said that Industrial Alliance was delighted to have a client the size and stature of Many Nations. "I am proud of our whole organization for delivering the service and tools to Many Nations to give added value to their existing customers and to grow their business. We look forward to a long and valued partnership with Many Nations."
About Many Nations
Many Nations was designed as a result of dedicated leadership and a strong vision. The vision began almost 20 years ago to create a Member-run Financial Services Organization tailored to meet the needs of Indigenous people. Today, Many Nations is focused on providing a full range of insurance and investment products to more than 300 Indigenous organizations with over 10,000 members across Canada. Many Nations currently has in excess of $87 million under management within the Many Nations Multi-Employer Pension Plan. In addition, Many Nations has $103 million under management in other pension plans. As the assets and members grow, Many Nations has continued to concentrate on the specific needs and goals of their clients.
Many Nations has earned the reputation of being one of the most successful providers of group pensions, life and health insurance plans to Indigenous organizations across Canada. It is their mission to assist their members in achieving the best possible culturally appropriate solutions for their needs in pensions, employee benefits, insurance, retirement planning, and risk management and as such, Many Nations works with all carriers in Canada to ensure they are meeting the needs of their members. Many Nations is not only dedicated to providing the best possible pensions and group benefits, it also represents the voice, the community and a common vision of self-determination for Indigenous people.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that 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. The fifth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group, which has operations across Canada, as well as in the western United States. Industrial Alliance contributes to the financial well-being of over three million Canadians, employs more than 2,900 people and manages and administers over $50 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
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Vice-President, Investor Relations
Office: 418 684-5275