Industrial Alliance Insurance and Financial Services has expanded IA group of companies with addition of IA American Life Insurance Company (IA American).
The company said that IA American and IA Pacific together will offer various life and annuity products designed to protect American families.
According to Industrial Alliance, the first product from IA American, SecureLife Plus universal life insurance is the new version of product which was introduced by IA Pacific’s US division in 2008. SecureLife Plus offers coverage to individuals up to age 120, with enhanced maximums on term riders, a new waiver of surrender charge endorsement and an accelerated death benefit.
Michael Stickney, president of IA American, said: “We’re excited about this opportunity to increase our presence in the US and build on our recent successes in providing financial security and peace of mind for our policyholders. We’ve laid a solid US foundation and now we’re focusing on growth in underserved, middle-income markets.”
Yvon Charest, president and CEO of Industrial Alliance, said: “The debut of IA American marks the beginning of a new phase in our expansion in North America. Over the last few years, we’ve focused on creating a solid local management team in the US. Our next objective is to create a strong and vibrant organization capable of serving the insurance and financial needs of middle-income American families.”