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IA Financial seeking shareholder approval to create holding company

IA Financial Group will hold an annual meeting and a special meeting of shareholders May 10 to vote on a number of proposals, including whether to create a holding company consisting of all iA Financial Group activities.

Certain shareholders have submitted a proposal that iA Financial's board should stop relying on comparisons with similar companies in establishing the compensation of its director. The board recommends the shareholders vote against this proposal because it believes it is essential to understand the employment market and to have benchmarking criteria to establish comparisons with targeted companies.

The company's board has also nominated Nicolas Darveau-Garneau and Marc Poulin to serve as directors. Garneau is a chief strategist at Google Search and Marc Poulin served as corporate director of Richelieu Hardware Ltd.

IA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.