Q3 2024 iA Financial Corporation Inc Earnings Call Transcript
Key Points
- Core EPS increased by 17% year-over-year to a record $2.93 per share, indicating strong profitability.
- The company achieved a trailing 12-month core ROE of 15.3%, surpassing its midterm target.
- Robust sales growth was observed across nearly all business units, with a 25% increase in premiums and deposits and a 22% rise in assets under management and administration.
- The Solvency ratio of 140% demonstrates a strong capital position, supported by organic capital generation of $180 million in Q3.
- iA Financial Corp Inc (IAFNF) announced a 10% increase in dividends and renewed its NCIB program, reflecting a commitment to returning value to shareholders.
- The challenging macroeconomic environment continues to impact vehicle affordability in Canada, affecting Dealer Services sales growth.
- Mutual fund inflows were lower than outflows, despite a 33% year-over-year increase in sales.
- The US operations experienced a less favorable business mix, impacting core noninsurance activities.
- The company faces ongoing challenges with inflation in auto parts affecting claims in the US extended vehicle warranty business.
- Core other expenses increased due to the addition of Vericity's expenses, impacting overall profitability.
Good morning, ladies and gentlemen, and welcome to the Industrial Alliance Insurance and Financial Services Inc. 2024 third-quarter results. (Operator Instructions) This call is being recorded on Wednesday, November 6, 2024. I would now like to turn the conference over to Marie-Annick, Head of Investor Relations. Please go ahead.
Good morning, and welcome to our 2024 third-quarter conference call. All our Q3 documents, including press release, slides for this conference call, supplementary information package and quarterly MD&A are posted in the Investor Relations section of our website at ia.ca. 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. A recording of this call will be available for one week starting this evening.
The archived webcast will be available for 90 days, and a transcript will be available on our website in the next week. I draw
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
