iA Financial Group announces annual meeting voting results

Quebec City, May 8, 2020 /CNW Telbec/ - Jacques Martin, Chair of the Board of iA Financial Group, is pleased to announce that the nominees listed in the proxy solicitation circular dated March 9, 2020, were elected as directors of iA Financial Corporation Inc. ("iA Financial Corporation") and Industrial Alliance Insurance and Financial Services Inc. ("iA Insurance").

Voting Results
iA Financial Group also announces the results of the votes by ballot held at its annual meeting on Thursday, May 7, 2020.

For iA Financial Corporation:

1. Election of Directors by Common Shareholders

Each of the nominees for the common shareholders listed in the circular was elected.

2. Appointment of External
Deloitte LLP was appointed as the corporation's external auditor.

3. Advisory Vote on the Corporation's Approach to Executive Compensation
The advisory resolution on executive compensation was approved.

4. Shareholder Proposals

The corporation announced at the meeting, that following discussions with the proposing shareholders as well as with several other shareholders, that it had changed its position on proposal no. 1 regarding the risk related to climate change and regarding proposal no. 2 regarding measurable objectives for the reduction of environmental impacts and that it recommended voting FOR these two proposals.

"We agree with the spirit of proposal no. 1, regarding the risk related to climate change," said Denis Ricard, President and Chief Executive Officer of iA Financial Group. "In our 2019 Sustainability Report, we are already presenting an advanced disclosure regarding our risk analysis related to climate change and we are committed to continuing and improving this disclosure next year."

With regards to proposal no. 2, regarding measurable objectives for the reduction of environmental impacts, Mr. Ricard clarified, "As an organization, we are clearly at the stage of determining the precise elements of our strategic framework for sustainable development for which we will establish targets as of 2020, as well as measurement and evaluation criteria. Starting next year, we will report on our results each year with respect to these targets and criteria in our Sustainability Report."

Shareholder Proposal No. 1
Shareholder proposal no. 1 regarding the risk related to climate change was approved.

Shareholder Proposal No. 2
Shareholder proposal no 2 regarding measurable objectives for the reduction of environmental impacts was approved.

Shareholder Proposal No. 3
Shareholder proposal no. 3 regarding advisory expertise in sustainable development was rejected.

For iA Insurance:

1. Election of Directors by the sole Common Shareholder
Each of the nominees for the sole common shareholder listed in the information document for participating policyholders was elected.

2. Election of Directors by Participating Policyholders
Each of the following nominees for the participating policyholders was elected.

3. Appointment of External Auditor by the sole common shareholder
Deloitte LLP was appointed as the corporation's external auditor.

Final results for all matters voted on during the annual meeting will be submitted to Canadian securities administrators and will be available on sedar.com.

About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is one of Canada's largest public companies and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares).

iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

SOURCE iA Financial Group