iA Financial (IAG) Investor Update summary

Strategic vision and business model

• Emphasizes a unique business model, the "iA Way," combining human and digital experiences to drive growth and resilience across diversified business lines in Canada and the U.S.

• Highlights a diverse product mix, advanced digital tools, and a robust distribution network as competitive advantages.

• Focuses on disciplined execution, capital-efficient management, and operational efficiency to drive future growth.

• Outperformed peers over 25 years, delivering nearly 15% annual shareholder returns and strong book value growth.

• Technology and data investments are central, with CAD 250–400 million invested annually to modernize platforms and enhance customer experience.

Canadian operations and growth drivers

• Canadian business is diversified across individual insurance, wealth management, group benefits, dealer services, and P&C, each contributing to resilience and growth.

• Individual Insurance and Savings leads the market in policy issuance and seg fund sales, growing faster than industry averages.

• Wealth management leverages advisor scale and technology to capture a growing affluent market.

• Group benefits and dealer services target mid-size and OEM markets, with strong growth and product expansion, while P&C in Quebec grows above market rates.

• Distribution excellence and technology integration support advisor productivity, customer loyalty, and operational efficiency.

U.S. operations and future outlook

• U.S. business focuses on individual insurance (final expense, simplified issue) and dealer services, leveraging Canadian expertise for growth.

• American Amicable has delivered 12–16% annual growth in policies and sales since acquisition, with ROE well above targets.

• Vericity acquisition brings digital and direct-to-consumer capabilities, aiming to double business in five years.

• U.S. Dealer Services is positioned for recovery and growth, targeting 10%+ annual sales growth, with operational improvements and expanded distribution.

• U.S. operations are expected to contribute significantly to overall ROE expansion, with gradual profitability improvements in dealer services starting in 2025.