Quebec City, QC (Mar. 22, 2016) – iA Financial Group, through its subsidiary National Financial Insurance Agency (NFIA), announced today the signing of an agreement to acquire the operations of Groupe financier Moreau, a life insurance agency with around 130 representatives.
This transaction comes as part of the growth strategy of NFIA, which supports an independent distribution network in retail insurance and wealth management. Groupe financier Moreau has offices in the greater Montreal area, located in the city’s suburbs to the north (Laval) and south (Brossard).
“We have worked with iA Financial Group’s teams for years. Our values focused on competence, professionalism and integrity are right in line with those demonstrated every day by these teams,” highlights Alain Moreau, President of Groupe financier Moreau. “For this reason, I am sure that the combining of our activities will be carried out in the simplest, most efficient manner possible for our clients, representatives and employees, and that everyone will come out ahead.”
“It is our pleasure to welcome Groupe financier Moreau’s representatives to our team of independent advisors and to now serve their clients as well. Alain Moreau’s extensive experience will be used in NFIA to develop and grow our business. With these new offices in the greater Montreal area, this acquisition consolidates our positioning in Quebec,” states Louis DeConinck, President of Investia Financial Services and head of NFIA.
The transaction closing date is planned for April 1, 2016, subject to normal closing conditions. After the transaction has been concluded, Groupe financier Moreau will be merged with NFIA. The impact of the transaction on earnings and capital is deemed non-material and therefore not disclosed.
About National Financial Insurance Agency (NFIA)
National Financial Insurance Agency (NFIA) was founded in 1984 as an insurance general agency to help its advisors provide insurance solutions as part of a comprehensive financial plan. Contracted with Canada’s premier life insurance companies, NFIA offers its advisors access to a comprehensive suite of financial products and services enabling them to provide their clients with a vast selection of the very best products on the market.
About iA Financial Group
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and among the largest publicly traded companies in the country. iA Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.
SOURCE: Industrial Alliance Insurance and Financial Services Inc.