Acquisition of Seaboard Life Insurance Company
In 1999, Industrial Alliance
purchases Seaboard Life Insurance Company, a Vancouver-based company founded
in 1912. Seaboard Life is then merged with Industrial Alliance Pacific.
This acquisition allows Industrial Alliance to
make great strides in western Canada. Industrial Alliance Pacific
becomes the largest insurance company with a head office located west
Today, Industrial Alliance Pacific operates
primarily in the western provinces and Ontario. It offers:
the same insurance products and financial
services as the parent company, Industrial Alliance Insurance and
creditor insurance products to automobile dealerships, a sector
in which it is currently the Canadian leader.
It is also responsible, within the Industrial
Alliance Group, for developing the special risks market for students,
employers and associations.