Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG) is marking the 10th anniversary of its listing on the Toronto Stock Exchange with the creation of a million dollar fund for learning a second language, the company said Wednesday.

“We are very pleased to mark our 10 years on the Toronto Stock Exchange and to share our success by creating a fund for young people,” stated Yvon Charest, president and CEO.

The Industrial Alliance Fund for Learning a Second Language is designed to encourage young Canadians to learn a second language. The $1 million fund will be used to offer scholarships for immersion stays or school sessions sponsored by secondary, college or university level institutions across the country. These scholarships are intended for French students who want to perfect their English and English students who want to improve their knowledge of French.

“It will help them in their careers and will foster exchanges and dialogue between young people in different regions of the country,” Charest said.

When it was listed on the TSX on Feb. 3, 2000, Industrial Alliance was primarily known as an insurance company that carried out most of its operations in Quebec.

Since then, the company has made major breakthroughs, three of which result in it to being recognized as a Canada-wide financial institution today: entry into the wealth management sector, primarily the mutual funds and securities market, through 16 acquisitions; growth outside Quebec, thanks to the opening of offices and the strengthening of sales networks across the country; and entry in new markets, namely individual health and disability insurance, Socially Responsible Investing funds and the U.S. market, through various acquisitions.

“You could say that since its listing on the Toronto Stock Exchange, Industrial Alliance has gone from a mutual company to a stock company, from a Quebec company to a Canada-wide company and from an insurance company to a financial institution,” concluded Charest.

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