Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG) Thursday debuted the newest addition to the IA group of companies, IA American Life Insurance Company.

Headquartered with the Industrial Alliance Pacific Life Insurance Company U.S. division in Scottsdale, Arizona, IA American is the next phase of the company’s long-term growth strategy in the United States.

Together, IA American and IA Pacific will offer a range of life and annuity products designed to protect American families.

“We’re excited about this opportunity to increase our presence in the U.S. and build on our recent successes in providing financial security and peace of mind for our policyholders,” says Michael Stickney, president of IA American. “We’ve laid a solid U.S. foundation and now we’re focusing on growth in underserved, middle-income markets.”

The first new product from IA American is SecureLife Plus universal life insurance, the next generation of an innovative product introduced by IA Pacific’s U.S. division in 2008.

“The debut of IA American marks the beginning of a new phase in our expansion in North America,” says Yvon Charest, president and CEO of Industrial Alliance.

“Over the last few years, we’ve focused on creating a solid local management team in the US. Our next objective is to create a strong and vibrant organization capable of serving the insurance and financial needs of middle-income American families.”

IE