IA Financial Group reported core earnings of $287 million for the final quarter of 2025, which was on par with its core earnings for the same quarter a year prior, the insurer announced Tuesday.
Net income attributed to shareholders was $201 million, down from $226 million the previous year — an 11% decline.
The company will pay a quarterly dividend of 99 cents per outstanding common share, compared to 90 cents in the fourth quarter of 2024.
IA saw “strong and profitable growth across all business segments in the fourth quarter,” Denis Ricard, president and CEO of the firm, said in a statement. He noted that the recent acquisition of RF Capital Group Inc. is “performing ahead of our initial expectations,” strengthening iA’s position in wealth management.
In the Canadian insurance segment, core earnings came in at $105 million for the fourth quarter, down from $116 million a year earlier, representing a 15% drop. This was mainly driven by unfavourable morbidity in special markets, partially offset by a favourable mortality experience. This segment also had higher expected earnings from individual insurance and employee plans.
In the wealth management segment, core earnings were $127 million for the fourth quarter, up from $112 million during the same period in 2024. This increase was primarily driven by strong net segregated fund sales and favourable financial markets. It was partially offset by the higher impact of new insured annuities sales in group savings and retirement.
As of Dec. 31, 2025, iA had $341.1 billion in assets under management and administration, up 31% on a year-over-year basis.