iA Financial Group Reports Solid Fourth Quarter Results
2021 results above guidance and robust financial position leading to an increased ROE¤ target for 2022
Quebec City,
News Release
FOURTH QUARTER HIGHLIGHTS – iA Financial Corporation
- Reported ROE¤,1 of 13.2% , and core ROE¤ of 14.2%, above guidance (12.5% to 14.0%)
- Reported EPS of $1.94, and core EPS¤ of $2.01, within guidance ($1.95 to $2.10)
- Solid business growth momentum in the fourth quarter, ending a very strong year of sales
- Solvency ratio¤ of 134% at December 31, 2021 and organic capital generation¤ of $150 million, both above guidance
- Book value per common share2 of $62.01, up 12% in 2021 and up 2% in the fourth quarter
- Increased targets in 2022 for ROE, EPS and organic capital generation¤
For the fourth quarter ended December 31, 2021, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $209 million, diluted earnings per common share (EPS) of $1.94 and return on common shareholders’ equity (ROE) for the trailing twelve months of 13.2%. Core EPS¤ was $2.01 and core ROE¤ for the trailing twelve months was 14.2%. Premiums and deposits¤ amounted to $4.2 billion during the quarter, up 6% from the same quarter in 2020, for a total of more than $16.6 billion in 2021, up 18% from 2020. Assets under management and administration¤ ended the year at $221.2 billion, an increase of 3% during the quarter and 12% in 2021.