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 govt officer of iA Monetary Group, stated the corporate’s fourth-quarter and full-year outcomes replicate its distribution capabilities, gross sales momentum and enterprise diversification.
“In the course of 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 12 months,” Ricard stated. “This stable end result was pushed by worthwhile gross sales that led our core ROE to develop to almost 16% for the 12 months.”
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, stated that natural capital era remained sturdy within the fourth quarter, permitting the corporate to satisfy its goal of greater than $600 million set originally of the 12 months.
“With important capital out there for deployment and elevated anticipated funding earnings, iA concluded 2024 on a stable observe, positioning the Firm effectively for additional development within the upcoming years,” Jobin stated.
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 components, together with the year-end assumption evaluation, 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 era 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.