iA Financial (IAG) Q3 2026 earnings summary

Executive summary

• Q3 core earnings rose 10% YoY to $356M and core diluted EPS increased 16% to $4.03; trailing 12-month core ROE was 17.6%.

• Net premiums, premium equivalents and deposits rose 16% to nearly $6.1B; AUM/AUA increased 30% YoY to $375B.

• Reported net income attributable to common shareholders fell 30% to $255M, while diluted EPS declined 26% to $2.89.

Financial highlights

• YTD core earnings rose 7% to $984M and core diluted EPS increased 11% to $10.94.

• Q3 quarterly annualized core ROE was 20%; core earnings were $356M versus $323M a year earlier.

• YTD net income attributable to common shareholders fell 11% to $776M; Q3 net income was $255M.

Outlook and guidance

• 2026 targets include core ROE of 17%+, organic capital generation of $700M+ net of dividends, and medium-term average core EPS growth of 10%+.

• Through September, organic capital generation was $515M, trailing 12-month core ROE was 17.6%, and the YTD core dividend payout ratio was 29.2%, within the 25%–35% target.

• Corporate core other expense target remains $70M ± $5M per quarter pre-tax; Q3 underlying core other expenses were $67M.

• U.S. final expense growth may moderate from recent 20% levels; management is comfortable with 10% growth while prioritizing business quality.