iA Financial (IAG) Q1 2026 earnings summary

Executive summary

• Core EPS rose 12% year-over-year to CAD 3.25, with trailing 12-month core ROE at 17.5%, meeting or exceeding 2026 targets.

• Net premiums and deposits increased 10% year-over-year to CAD 6.4 billion; assets under management and administration grew 31% to over CAD 346 billion.

• Record quarterly individual wealth management gross sales of CAD 3.7 billion and strong distribution activity across insurance and wealth platforms.

• Announced leadership changes, including new executive roles for acquisition-driven growth and a planned executive retirement.

• Increased quarterly dividend by 11% to CAD 1.10 per share and expanded NCIB buyback capacity to 8% of public float.

Financial highlights

• Core EPS at CAD 3.25, up 12% year-over-year; reported EPS at CAD 1.49, down 25% year-over-year.

• Core ROE (trailing 12 months) at 17.5%; solvency ratio at 134%, well above regulatory minimum.

• Organic capital generation of CAD 155 million in Q1; capital available for deployment at CAD 1.2 billion.

• Book value per common share reached CAD 78.90, up 6% year-over-year.

• CAD 261 million deployed in share buybacks during the quarter.

Outlook and guidance

• On track to generate over CAD 700 million in organic capital for the full year.

• Dividend payout ratio remains within target range at 30.5% for Q1; medium-term target is 25–35%.

• Medium-term core effective tax rate revised to 21–23% due to new federal tax measures, with 2026 expected at the upper end.

• Medium-term target of 10%+ annual average core EPS growth and core ROE above 17%.