Industrial Alliance Reports Second Quarter Results
- Reported EPS and core EPS1 of $1.19 vs. guidance of $1.15 to $1.25 EPS
- QoQ improvement in policyholder experience (-$0.02 EPS vs. -$0.12 EPS in Q1)
- New business strain ratio of 3% (+$0.02 EPS)
- Premiums and deposits of $2.4 billion (+26% YoY)
- Solvency ratio of 220% (206% post-HollisWealth)
- Book value per share of $42.26 (+12% YoY)
For the second quarter ended June 30, 2017, Industrial Alliance Insurance and Financial Services Inc. (TSX: IAG) reports net income attributed to common shareholders of $127.5 million, diluted earnings per common share (EPS) of $1.19 and return on shareholders’ equity (ROE) for the last twelve months of 12.9%. Core1 EPS of $1.19 is near the middle of guidance ($1.15 to $1.25 EPS) provided by management to the financial markets.