Industrial Alliance Insurance and Financial Services Inc. reports positive third-quarter results over last year:

  • Net income attributed to common shareholders increased to $144.4 million (+28%).
  • Diluted earnings per share (EPS) increased to $1.40 (+$0.29).
  • Annualized return on equity (ROE) increased to 14.7% (+240 bps).

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Further profitability highlights:

  • The new-business strain ratio is 12% of sales, which beats guidance by 3%.
  • Retail insurance sales in Canada and the U.S. maintain strong growth (+18% in total sales).
  • Net fund sales in retail wealth management are positive, after six negative quarters.
  • The solvency ratio of 218%, compared with 199% at the end of Q2 2016.

In a release, Yvon Charest, president and CEO, says, “Top-line growth has been robust in virtually all lines of business, profit from employee plans has been solid and fund flows from our mutual fund business continue to improve.”

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