Caisse de dépôt et placement du Québec has invested $199.9 million in Industrial Alliance Life Insurance and Financial Services through a private placement of six million shares. The proceeds will be added to Industrial Alliance Life’s capital and used for general corporate purposes.
The issue will raise the company's solvency ratio by 14 percentage points. Industrial Alliance Insurance is a life and health insurance company with operations in all regions of Canada as well as in the U.S.
Click here for the release from Canada Newswire.