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iA Financial Group Reports First Quarter Results

Robust financial position and continued strong sales momentum

Quebec City,

News Release

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