Insurance
Home›Insurance›Industry & Deals›iA Financial reports 25% growth in premiums and deposi…
iA Financial reports 25% growth in premiums and deposits
The insurer said Quebec’s Law 15 cut creditor insurance sales by 10% year over year and federal caps lowered international student medical insurance sales.
iA Financial Group reported strong overall growth in 2026, posting core earnings of C$330 million for the second quarter, up 5% from the same period in 2025. Net income attributable to common shareholders rose 20% to C$384 million, and diluted earnings per share increased 25% to C$4.28, the company said.
The insurer attributed major momentum to Wealth Management, where core earnings rose 37% to C$155 million on strong sales and favorable financial markets. For the quarter, net premiums, premium equivalents and deposits climbed 25% to more than C$6.3 billion, and total assets under management and administration increased 37% over the past year to exceed C$374 billion, iA said.
However, iA pointed to policy-driven weakness in two niche lines. Creditor insurance sales at its Dealer Services unit fell 10% year over year, which the company linked to Quebec’s Bill 30, also known as Law 15, introducing new requirements for selling creditor insurance through dealerships.
Separately, iA’s Special Markets sales fell to C$83 million from C$99 million a year earlier, reflecting lower international student medical insurance sales after federal measures capped the number of international students entering Canada. iA said the declines reflect the continuing impact of those federal caps, rather than a temporary quarter-to-quarter shift.