iA Monetary Group reported core earnings of $3.04 per diluted share within the fourth quarter of 2024, a 30% improve 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% 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 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 powerful 39% progress in premiums and deposits in comparison with the identical quarter final yr,” Ricard mentioned. “This stable consequence was pushed by worthwhile gross sales that led our core ROE to develop to almost 16% for the yr.”
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 era remained sturdy within the fourth quarter, permitting the corporate to fulfill its goal of greater than $600 million set initially of the yr.
“With important capital obtainable for deployment and elevated anticipated funding earnings, iA concluded 2024 on a stable be aware, positioning the Firm nicely 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 yr earlier. The one share level decline within the fourth quarter was attributed to non-organic components, together with the year-end assumption overview, 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 file on Feb. 28.
