iA Financial Group Reports First Quarter Results

FIRST QUARTER HIGHLIGHTS – iA Financial Corporation

• Solid business growth for individual insurance, individual wealth management and both dealer services divisions
• Reported ROE^†,1 of 12.8%, and core ROE^† of 14.1%, in the middle of guidance (13 to 15%)
• Reported EPS of $1.40, and core EPS^† of $1.79 – Guidance for core EPS was $1.85 to $2.00
• Robust solvency ratio^† of 132% at March 31, 2022 and good organic capital generation† of $100 million
• Book value per common share² of $61.04, up 7% year over year
• Increased confidence in our near-neutral to favourable IFRS 9 and IFRS 17 transition outlook

For the first quarter ended March 31, 2022, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $151 million, diluted earnings per common share (EPS) of $1.40 and return on common shareholders’ equity (ROE) for the trailing twelve months of 12.8%. Core EPS^† was $1.79 and core ROE^† for the trailing twelve months was 14.1%. Premiums and deposits^† amounted to $4.4 billion during the quarter, similar to the record achieved for the same period in 2021. Assets under management and administration^† ended the quarter at $213.9 billion, a year-over-year increase of 6%.

Read the press release