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iA Financial Group Reports First Quarter Results
Sustainable financial strength and strong sales growth despite the COVID-19 pandemic
Quebec,
News Release
FIRST QUARTER HIGHLIGHTS – iA Financial Corporation
- Focus on health of employees and advisors and support for clients and communities
- Core EPS1 of $1.41, up 10% YoY
- Reported EPS of $0.36 (-74% YoY), reduced by an estimated $1.12 EPS due to COVID-19 impact
- Solvency ratio of 137% at March 31, 2020 (124% at March 31, 2019)
- Premiums and deposits up 19% YoY, supported by strong segregated fund sales
- Excellent performance by iA Auto and Home throughout the quarter (+$0.11)
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.