Back to newsroom

iA Financial Group Reports Second Quarter Results

Core ROE target met through capital deployment and strong profitability supported by solid business growth

Quebec,

News Release


SECOND QUARTER HIGHLIGHTS – iA Financial Corporation

  • Core EPS of $2.75, up 15% YoY, and trailing-12-month core ROE of 15.0%, meeting the medium-term target of 15%+
  • Strong sales momentum, reflected by solid 15% YoY increase in premiums and deposits and 12% YoY increase in assets (AUM and AUA)
  • Robust solvency ratio of 141%, supported by strong organic capital generation of $175M in Q2
  • High level of capital deployment, including through acquisitions and $287M in share buybacks, leading to ROE expansion
  • Book value per common share reaching $69.92 at June 30, 2024, up 9% over 12 months (excluding share buyback impact)

For the second quarter ended June 30, 2024, iA Financial Corporation (TSX: IAG) recorded core diluted earnings per common share (EPS) of $2.75, which is 15% higher than the same period in 2023. Core return on common shareholders’ equity (ROE) for the trailing twelve months was 15.0%, meeting the Company’s medium-term target of 15%+. On a reported basis, which includes the impact of volatile items (primarily short-term macroeconomic variations), second quarter net income attributed to common shareholders was $206 million, diluted EPS was $2.12 and ROE for the trailing twelve months was 11.1%. The solvency ratio† of 141% at June 30, 2024 is well above the Company’s operating target of 120%.

Read the press release