iA Monetary Group reported core earnings of $3.04 per diluted share within the fourth quarter of 2024, a 30% enhance from a yr in the past.
For the total yr, core earnings exceeded $1 billion, reaching $1.07 billion. Core EPS was $11.16, reflecting a 20% enhance from 2023.
Denis Ricard (pictured), president and chief government officer of iA Monetary Group, mentioned the corporate’s fourth-quarter and full-year outcomes replicate its distribution capabilities, gross sales momentum and enterprise diversification.
“Through the fourth quarter, we continued to execute on our long-term technique and delivered a formidable 39% development in premiums and deposits in comparison with the identical quarter final yr,” Ricard mentioned. “This stable end result was pushed by worthwhile gross sales that led our core ROE to develop to just about 16% for the yr.”
Ricard added that the corporate would supply an replace on its development technique and new market steering at its Investor Occasion on Feb. 24.
Eric Jobin, chief monetary officer and chief actuary of iA Monetary, mentioned that natural capital technology remained sturdy within the fourth quarter, permitting the corporate to satisfy its goal of greater than $600 million set at the start of the yr.
“With vital capital out there for deployment and elevated anticipated funding earnings, iA concluded 2024 on a stable notice, positioning the Firm properly for additional development within the upcoming years,” Jobin mentioned.
As of Dec. 31, 2024, iA Monetary Group’s solvency ratio was 139%, in contrast with 140% within the earlier quarter and 145% a yr earlier. The one proportion level decline within the fourth quarter was attributed to non-organic components, together with the year-end assumption assessment, administration actions, macroeconomic variations and capital deployment initiatives.
These have been partially offset by financing initiatives, together with a $400 million subordinated debenture issuance and continued natural capital technology of $150 million within the fourth quarter.
The corporate’s board additionally declared a quarterly dividend of $0.90 per excellent frequent share, payable on March 17 to shareholders of file on Feb. 28.
