Ms. Grace Pollock reports

INDUSTRIAL ALLIANCE ANNOUNCES 9% INCREASE IN THE DIVIDEND ON ITS COMMON SHARES

Industrial Alliance Insurance and Financial Services Inc. has increased its quarterly dividend by three cents per common share, raising it to 35 cents. This dividend will be payable on March 15, 2017, to all common shareholders of record at the close of business on Feb. 28, 2017.

Industrial Alliance reminds shareholders who wish to enroll in the company's dividend reinvestment and share purchase plan (DRIP) that they must do so no later than 4 p.m. on Feb. 21, 2017, in order to reinvest the next dividend. To enroll, go to the company's website, under "About iA," in the investor relations/dividends section.

Please note that the common shares issued under the DRIP will be purchased on the secondary market and no discount will be applicable.

About Industrial Alliance Insurance and Financial Services Inc.

Founded in 1892, Industrial Alliance offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans, and other financial products and services for both individuals and groups. It is one of the four-largest life and health insurance companies in Canada and among the largest publicly traded companies in the country.