iA Monetary Group reported core earnings of $3.04 per diluted share within the fourth quarter of 2024, a 30% improve from a 12 months in the past.
For the complete 12 months, core earnings exceeded $1 billion, reaching $1.07 billion. Core EPS was $11.16, reflecting a 20% improve from 2023.
Denis Ricard (pictured), president and chief government officer of iA Monetary Group, mentioned the corporate’s fourth-quarter and full-year outcomes mirror 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 powerful 39% progress in premiums and deposits in comparison with the identical quarter final 12 months,” Ricard mentioned. “This strong end result was pushed by worthwhile gross sales that led our core ROE to develop to just about 16% for the 12 months.”
Ricard added that the corporate would supply an replace on its progress technique and new market steerage at its Investor Occasion on Feb. 24.
Eric Jobin, chief monetary officer and chief actuary of iA Monetary, mentioned that natural capital technology remained robust within the fourth quarter, permitting the corporate to satisfy its goal of greater than $600 million set in the beginning of the 12 months.
“With vital capital obtainable for deployment and elevated anticipated funding earnings, iA concluded 2024 on a strong observe, positioning the Firm properly for additional progress 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 12 months earlier. The one share level decline within the fourth quarter was attributed to non-organic elements, together with the year-end assumption evaluation, administration actions, macroeconomic variations and capital deployment initiatives.
These had 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 widespread share, payable on March 17 to shareholders of document on Feb. 28.
