Q2 2026 iA Financial Corporation Inc Earnings Call Transcript
Key Points
- Core EPS rose 5% year-over-year to $3.68, with EPS up 25% to $4.28, and trailing 12-month core ROE hit 17.5%, meeting the 2026 target.
- Business growth was robust, with premiums, premium equivalents, and deposits up 25% year-over-year to $6.3 billion, and assets under management and administration grew 37%.
- Wealth Management delivered strong results, with core earnings up 37% year-over-year to $155 million, driven by record seg fund sales and strong net inflows.
- Capital position remains strong with a solvency ratio of 137% and $1.1 billion available for deployment, supporting continued share buybacks and growth investments.
- US Individual Insurance achieved a quarterly record in sales of USD 86 million, up 10% year-over-year, driven by growth in final expense and middle market segments.
- US operations core earnings declined to $24 million from $36 million a year ago, impacted by an $8 million mortality loss at Fidelity Life.
- Dealer Services earnings improvement has been slower than anticipated, with sales affected by less favorable US auto market conditions.
- Canadian individual insurance sales were down year-over-year, reflecting disciplined underwriting and a focus on avoiding undue risk in certain product segments.
- Special Markets sales were negatively impacted by lower international student medical insurance volumes due to federal government measures.
- Core other expenses are expected to trend toward the midpoint of the target range in Q3 and Q4, indicating higher costs ahead.
Thank you for standing by. This is the conference operator. Welcome to the iA Financial Group's second-quarter 2026 earnings results conference call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. (Operator Instructions)
I would now like to turn the conference over to Caroline Drouin, Head of Investor Relations with iA Financial Group. Please go ahead.
Thank you, and good morning, everyone. (spoken in foreign language)
Welcome to iA's second-quarter 2026 conference call. This conference call is open to the financial community, the media, and the public. I remind you that the question period is reserved for financial analysts.
And before we start, I draw your attention to the forward-looking statements information on slide 2. Forward-looking statements made today are subject to risks and uncertainties that could cause actual results to differ materially. These statements are based on certain material factors and
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