IA Financial Group has completed the creation of iA Financial Corp. Inc., a holding company consisting of all iA Financial Group activities.
All common shares of iA Financial Group outstanding at Jan. 1 have been exchanged for newly issued common shares of iA Financial Corp. on a one-for-one basis. IA Financial Group will still issue outstanding preferred shares and debentures, while iA Financial Corp. will guarantee them.
The common shares of iA Financial Corp. will be listed and start trading on the Toronto Stock Exchange under iA Financial Group's existing trading symbol on Jan. 4.
As of Jan. 1, the normal course issuer bid program of iA Financial Group has been transferred to the holding company, subject to compliance with regulatory limits and requirements. The board members of both companies remain the same.
IA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.