iA Financial (IAG) Scotiabank’s 27th Annual Financials Summit summary

Macroeconomic and geopolitical outlook

• Tariff risks between Canada and the U.S. have had minimal direct impact, but broader macroeconomic and geopolitical factors are monitored closely.

• Confidence in the Canadian economy's resilience and support for diversification beyond the U.S. market.

Insurance and distribution strategy

• Focus on expanding distribution networks, especially in Canada, to address the underinsured population.

• Growth in career agents in Quebec, with expectations of 5–8% CAGR in individual insurance over the next few years.

• Chronic advisor shortage in Canada and the U.S. leaves about 50% of the population underprotected.

• Active recruitment and relationship-building with both dedicated and independent advisors.

U.S. operations and business performance

• U.S. individual insurance business has achieved a 16% CAGR in sales over 16 years, with profitability above targets.

• Focus on niche markets like final expense insurance and differentiated distribution management.

• Dealer Services business in the U.S. faces headwinds but is showing gradual improvement through repricing and executive changes.