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iA Financial Group Reports Fourth Quarter Results
Robust capital position and good profitability with core EPS and core ROE well within guidance for the quarter and the year
Quebec,
News Release
FOURTH QUARTER HIGHLIGHTS – iA Financial Corporation
- Reported EPS of $2.17 (+12% YoY), and core EPS† of $2.40 (+19% YoY), within guidance of $2.35 to $2.50
- Reported ROE†,1 of 12.3%, and core ROE1,† of 14.2%, in the top half of guidance (13% to 15%)
- Strong sales results in most business units, in particular for individual insurance and group insurance and group savings and retirement
- Robust solvency ratio† of 126% at December 31, 2022 and strong organic capital generation† of $130 million
- Sustained shareholder value with near-neutral impact on book value from IFRS 9 and IFRS 17 transition: +$10M at Jan. 1, 20222
- Superior employee experience recognized by Glassdoor and Forbes
For the fourth quarter ended December 31, 2022, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $229 million, diluted earnings per common share (EPS) of $2.17 and return on common shareholders’ equity (ROE) for the trailing twelve months of 12.3%. Core EPS† of $2.40 is within guidance and 19% higher than the corresponding quarter of 2021, and core ROE† of 14.2% for the trailing twelve months is in the top half of guidance. The solvency ratio remains robust at 126% at December 31, 2022.