iA Financial Group Reports Fourth Quarter and 2019 Results
Significant EPS growth and 8% increase in dividend to common shareholders
Fourth quarter highlights – iA Financial Corporation
- Reported EPS of $1.59 (+17% YoY) and ROE of 12.9% (trailing twelve months)
- Core EPS1 of $1.62, above guidance of $1.50 to $1.60
- Premiums and deposits up 21% and AUM/AUA up 12% YoY
- Solvency ratio of 133% at December 31, 2019 (126% at December 31, 2018)
- Impact of year-end assumption review slightly positive
- Dividend on common shares raised to $0.4850 per share (+8%)
- Announcement of IAS acquisition in U.S. vehicle warranty market
The results presented below are for iA Financial Corporation Inc. (“iA Financial Corporation” or the “Company”), the holding company that owns 100% of the common shares of Industrial Alliance Insurance and Financial Services Inc. (“iA Insurance”) as a result of a plan of arrangement. The results for iA Insurance are presented in a separate section on page 5 of this document.
For the fourth quarter ended December 31, 2019, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $171.2 million, diluted earnings per common share (EPS) of $1.59 and return on shareholders’ equity (ROE)1 for the last twelve months of 12.9%. Core EPS of $1.62 is above guidance of $1.50 to $1.60 per share for the quarter. An analysis of our 2019 results is provided in the Management’s Discussion and Analysis filed on SEDAR today.