For its third-quarter results, iA Financial Group has posted double-digit growth as its core earnings per share (EPS) reached CA$3.47, an 18% increase year over year, while its US insurance arm reported consistent earnings.
The company’s trailing-12-month core return on equity (ROE) reached 17.2%, aligning with its 2027 target of 17% or higher. Reported EPS for the quarter was CA$3.91, up 31% from the prior year, while trailing-12-month ROE stood at 15.6%, supported by favorable macroeconomic factors.
For the US operations segment, net income attributed to common shareholders was CA$21 million, consistent with the previous year. Core earnings for the segment were CA$32 million, compared to CA$31 million in the third quarter of 2024.
The increase was driven by higher combined risk adjustment release and contractual service margin recognized for services provided, reflecting business growth over the past year, as well as lower impacts from new insurance business and reduced core other expenses in dealer services and individual insurance. These gains were offset by higher core income taxes.
Core insurance experience gains of CA$2 million were recorded in the US segment, similar to the previous year, supported by favorable individual insurance mortality experience. Core non-insurance activities contributed CA$19 million, unchanged from a year earlier, with Dealer Services earnings growth offset by losses in Vericity’s distribution activities.
Wealth management activities in Canada and the US generated net fund sales exceeding CA$1.1 billion. Organic capital generation reached CA$170 million for the quarter, keeping the company on track to meet its 2025 target of more than CA$650 million.
Book value per common share was CA$79.22 as of September 30, representing a 4% increase over three months and an 11% rise over 12 months. Capital available for deployment totaled CA$1.7 billion, or CA$1.3 billion on a pro forma basis.
The acquisition of RF Capital Group Inc. closed on October 31, expanding iA Financial Group’s wealth management distribution capabilities. On November 4, the also company announced the renewal of its normal course issuer bid (NCIB) program, allowing for the repurchase of up to 5% of outstanding shares.
Supporting its third-quarter performance, iA Financial reported a strong second quarter in 2025, with core diluted EPS up 27% year over year, and a trailing-12-month ROE of 17.0%.
“Our solid third-quarter results highlight the strength of our diversified business model, which generates consistent long-term value for our clients and shareholders,” said Denis Ricard, president and CEO of iA Financial Group.
Ricard noted continued strong growth in wealth management, with net fund sales surpassing CA$1.1 billion, and described the RF Capital Group acquisition as a further step in strengthening the company’s position in Canadian wealth management.
