iA Financial Group’s net income grew in the fourth quarter and throughout the year in 2019, reaching $171.2-million in the fourth quarter, up from $149.5-million reported in the fourth quarter of 2018. For the year 2019, net income reached $687.4-million, up from the $612.7-million reported at the end of 2018.
The company reported that premiums and deposits grew 21 per cent, while assets under management and administration increased 12 per cent, year-over-year, to reach $189.5-billion, up from $168.8-billion posted as of Dec. 31, 2018.
“For the full year, earnings per share were up 14 per cent. Excellent results at iA Auto and Home and in U.S. operations were just two of the factors that contributed to this solid performance,” iA Financial’s CEO, Denis Ricard said in a statement released Feb. 13.
iA Financial Group’s solvency ratio was 133 per cent as of Dec. 31, up from 126 per cent reported a year earlier. iA Insurance’s solvency ratio was 126 per cent at the end of the year.
In addition, the company’s board of directors approved a quarterly dividend of $0.485 per common share, payable on March 16, 2020 to shareholders of record as of February 28, 2020.