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iA Financial Group Reports Fourth Quarter and Full Year Results
iA concludes 2024 on a solid note, achieving all its market guidance targets
Quebec,
News Release
FOURTH QUARTER HIGHLIGHTS – iA Financial Group
- Core EPS†† of $3.04 (+30% YoY), trailing 12-month core ROE†† of 15.9% and annualized core ROE†† of 16.9%
- EPS of $2.33, trailing 12-month ROE1 of 13.9% and annualized ROE of 12.9%
- Strong sales2 momentum leading to over $5.7 billion in premiums and deposits2,3 (+39% YoY) and more than $259 billion in assets (total AUM2 and AUA2)
- Robust solvency ratio4 of 139%5, capital available for deployment2 of $1.4 billion6 and strong ongoing organic capital generation2
- Book value per common share7 reaching $73.44 at December 31, 2024, up 3% over 3 months and up 10% over 12 months
- Subsequent to the quarter: Acquisition of Global Warranty, increasing our Dealer Services presence in the used vehicle warranty market in Canada
For the fourth quarter ended December 31, 2024, iA Financial Group (TSX: IAG) recorded core diluted earnings per common share (EPS)†† of $3.04, which is 30% higher than the same period in 2023. Core return on common shareholders’ equity (ROE)†† for the trailing twelve months was 15.9%, meeting the Company’s medium-term target of 15%+. Fourth quarter net income attributed to common shareholders was $220 million, diluted EPS was $2.33 and ROE for the trailing twelve months was 13.9%. The solvency ratio of 139%5 at December 31, 2024 was well above the Company’s operating target of 120%.