Economic newsletter – October 2010, volume 4, number 2

Insurance

Industrial Alliance acquires American-Amicable Holding and GSM in the US

Industrial Alliance, Insurance and Financial Services Inc. has acquired American-Amicable Holding Inc. for $145 million, in addition to the existing life insurance policies at Golden State Mutual ("GSM"), located in California. These acquisitions will significantly boost Industrial Alliance’s presence south of the border.