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Industrial Alliance Delivers Excellent Fourth Quarter and 2016 Results

Quebec,

News Release

Q4-2016 Highlights
  • Diluted EPS of $1.48 exceeds Q4 guidance ($1.10-$1.20 EPS)
  • Favourable impact of year-end assumption review (+$0.22 EPS)
  • Continued favourable policyholder experience (+$0.05 EPS)
  • New business strain ratio at all-time low of 5% (+$0.01 EPS)
  • Retail insurance continues to deliver strong growth (+27% YoY)
  • Net mutual fund flows become positive in Q4
  • Solvency ratio of 225% (211% post-HollisWealth acquisition)
  • Book value per share up 6% (11% YoY)
  • Quarterly dividend increased by 3 cents to $0.35 per common share

For the fourth quarter ended December 31, 2016, Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG) reports net income attributed to common shareholders of $155.0 million and diluted earnings per common share (EPS) of $1.48. These results compare with net income of $4.2 million and EPS of $0.04 in the same quarter of 2015 that included a reserve strengthening of $1.05 per share. A discussion of the twelve-month 2016 results is provided in the Management's Discussion and Analysis filed on SEDAR today.

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