Mr. John LeBoutillier reports

JOCELYNE BOURGON TO SUCCEED JOHN LEBOUTILLIER AS CHAIR OF IA FINANCIAL GROUP'S BOARD OF DIRECTORS

Industrial Alliance Insurance and Financial Services Inc. plans to appoint Jocelyne Bourgon as chair of its board of directors. Ms. Bourgon will replace John LeBoutillier, who will be retiring after the annual meeting on May 11, 2017. This appointment is subject to the shareholders' re-election of Ms. Bourgon to the board at the annual meeting.

Mr. LeBoutillier has been a member of the Industrial Alliance Insurance and Financial Services board of directors since 1997 and its chairman since 2005.

He is stepping down as chairman of the board after re-election beyond the age of retirement to ensure a smooth transition to a new chair. A lawyer by training, member of the Order of Canada and recipient of the 2015 Fellowship Award from the Institute of Corporate Directors, Mr. LeBoutillier holds an impressive record at the head of various companies and as a director for major corporations.

"I've witnessed Industrial Alliance's remarkable transformation over the years. Less than two decades ago, it was an insurance company with operations mainly in Quebec, just starting to expand outside the province with offices in Toronto and Vancouver," said Mr. LeBoutillier. "Today, iA Financial Group is a full-fledged financial services company with offices Canadawide and in the United States and a key player in the Canadian insurance and wealth management industries."

Ms. Bourgon has held some of the highest offices in the Canadian public service, including deputy minister of various economic development departments, clerk of the privy council and secretary to the cabinet. She has extensive international experience, including with the Organization for Economic Co-operation and Development (OECD), the United Nations and the Commonwealth. An officer of the Order of Canada, Ms. Bourgon has been a member of the Industrial Alliance board of directors since May, 2014, and its vice-chair since May, 2016.

"It's a privilege to work with the board members and management of iA Financial Group," said Ms. Bourgon. "The exceptional management team and highly skilled board work together to ensure the company's continued success, growth and development. Not only does this benefit its clients and employees, it also ensures the success of its partners and earns the trust of its valued shareholders."

The annual meeting of the company is scheduled for Thursday, May 11, 2017, at 2 p.m., at the Quebec City Convention Centre located at 1000 Rene-Levesque Blvd. East in Quebec City.

About Industrial Alliance Insurance and Financial Services Inc.

Industrial Alliance Insurance and Financial Services Inc. 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.