- IAG.TO
- IAG.NE
Key Points
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iA Financial delivered stronger Q2 results: Core earnings rose to CAD 330 million, core EPS increased 5% to CAD 3.68, and trailing 12-month core ROE reached 17.5%, meeting its 2026 target.
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Wealth management was the main growth driver, with core earnings up 37% to CAD 155 million, supported by strong segregated-fund inflows, market gains, advisor recruitment and RF Capital’s contribution.
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U.S. Dealer Services remains a weakness and turnaround priority: U.S. core earnings fell to CAD 24 million, while management is implementing pricing, operational and sales changes and expects the business to become a growth tailwind in 2027–2028.
iA Financial (TSE:IAG) reported higher second-quarter earnings and continued growth in wealth management, while management highlighted ongoing efforts to improve profitability in its U.S. Dealer Services business.
Core earnings totaled CAD 330 million in the second quarter of 2026, while net income reached CAD 384 million. Core earnings per share were CAD 3.68, up 5% from a year earlier, and reported EPS was CAD 4.28, up 25% year over year. Trailing 12-month core return on equity was 17.5%, meeting the company’s 2026 target of at least 17%.
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President and CEO Denis Ricard said the results reflected contributions across the company’s businesses rather than growth concentrated in a single area. Net premiums, premium equivalents and deposits rose 25% year over year to CAD 6.3 billion, while assets under management and administration increased 37% over the past 12 months, aided by fund inflows, financial markets and the addition of RF Capital.
Capital Position and Shareholder Returns
The company ended the quarter with a solvency ratio of 137% and CAD 1.1 billion of capital available for deployment. It generated CAD 188 million of organic capital during the quarter and CAD 335 million in the first half, keeping it on track toward its goal of generating more than CAD 700 million in organic capital during 2026, Ricard said.
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iA Financial returned capital through dividends and CAD 347 million of share repurchases during the quarter. Book value per common share was CAD 80.55, up 6% over the previous 12 months.
CFO and Chief Actuary Éric Jobin said the solvency ratio increased three percentage points during the quarter, supported by a May capital issuance, organic capital generation and favorable macroeconomic impacts. The increase was partly offset by buybacks, investments in organic growth and common-share dividends.
