QUEBEC CITY, July 13 2010 – Industrial Alliance Insurance and Financial Services Inc. was chosen by AkzoNobel Canada to manage the pension plans for some 2,300 Canadian employees working in the paint and chemical product sector. These new plans take effect in July 2010.
The agreement includes defined contribution registered pension plans (RPP-DC), registered retirement savings plans (RRSP) and non-registered plans.
“This new partnership with Industrial Alliance is great news for our employees,” said �ric Gagnon, Manager, Global Compensation, AkzoNobel. “Industrial Alliance distinguished itself through the quality of its service, its team initiative and the personalization of its products. The Industrial Alliance Group Pensions team is devoted and takes the satisfaction of its clients to heart. The range of products and services offered was adapted to our brand image, allowing our employees to identify with it and to make it their own pension plan. In addition, the Life Cycle portfolios are an ideal investment tool for our employees, because they can be personalized and thus meet all of their needs.”
“We’re honoured by the trust AzkoNobel has shown us,” said St�phane Beaulieu, Director, Marketing, Group Pensions, Industrial Alliance. “Our personalized, optimal range of products and services, from Life Cycle portfolios to communication tools for members, are able to specifically meet the needs of AkzoNobel’s Canadian employees. AkzoNobel appreciates our commitment to seamlessly implement its pension plans on a national scale. Moreover, this major agreement supports the growth of the Industrial Alliance Group Pensions sector in the Canadian companies of 1,000 employees and more segment.”
AkzoNobel is the largest company in the world specialized in paint and coatings, and one of the largest manufacturers of specialty chemicals. It supplies innovative products to industries and consumers around the world, and makes it a point of honour to develop sustainable solutions for clients. Its portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, in the Netherlands, it’s on the Global Fortune 500 list of companies and always holds one of the top positions on the Dow Jones Sustainability Indexes. Operating in more than 80 countries, its 55,000 employees are committed to excellence and to the company philosophy of offering Tomorrow’s Answers Today(TM).
In Canada, the company employs close to 2,300 employees from coast to coast. AkzoNobel is the Canadian leader in decorative paints. It offers a complete line of value added paint products, under the recognized Betonel, CIL, Devoe, Dulux, Glidden, Sico and Sikkens brands, as well as many private labels. It also makes specialized coatings for wood, industry and automobiles, under the Chemcraft, International, Lesonal and Dynacoat brands. AkzoNobel manufactures specialty chemicals in its Eka division and surfactant for the pulp and paper industry.
About Group Pensions
The Industrial Alliance Group Pensions sector offers a wide range of products and services adapted to the needs of pension plan members. In particular, it offers savings products such as defined contribution plans, defined benefit plans and institutional money management services, as well as disbursement products. It provides its plan members with a large choice of investment options, such as segregated funds and guaranteed interest investments. Thanks to regional offices across Canada, the Group Pensions sector is rapidly expanding, and sales of new group retirement plans grew from some $5 million about 12 years ago to approximately $500 million today.
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 fourth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group, which has operations in all regions of Canada, as well as in the United States. Industrial Alliance contributes to the financial wellbeing of over three million Canadians, employs more than 3,500 people and manages and administers over $60 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. www.inalco.com