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iA Financial Group Reports Second Quarter Results

Press Release

Core EPS† above guidance, supported by positive core experience† — Common dividend raised by 8%

July 28, 2022

SECOND QUARTER HIGHLIGHTS – iA Financial Corporation

  • Reported EPS of $2.06, and core EPS of $2.37, above guidance ($2.20 to $2.35)
  • Reported ROE†,1 of 12.5%, and core ROE of 14.1%, above the middle of guidance (13% to 15%)
  • Reinforced positive outlook for IFRS 9 and IFRS 17 transition
  • Robust solvency ratio of 130% at June 30, 2022 and strong organic capital generation of ~$160 million
  • Book value per common share2 of $60.97 at June 30, 2022, compared to $59.02 12 months earlier
  • Dividend on common shares raised to $0.6750 per share (+8%)

For the second quarter ended June 30, 2022, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $222 million, diluted earnings per common share (EPS) of $2.06 and return on common shareholders’ equity (ROE) for the trailing twelve months of 12.5%. Core EPS of $2.37 is above guidance for the quarter and core ROE of 14.1% for the trailing twelve months is above the middle of guidance. The solvency ratio stands strong at 130% at June 30, 2022.

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