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Increase in net profits for ai financial Group ; disappointment for the sales of mutual funds

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Frédérique De Simone

February 15, 2019 09:30

Denis Ricard | Photo : Denis Méthot

iA financial Group has reported net income of 612,7 million dollars ($M) in 2018. This is an increase of 19 % compared to 2017. The net income was then 515,5 M$.

“Overall, sales for the year are satisfactory, except as regards our activities of mutual funds, which are evolving in a business environment difficult,” said Denis Ricard, chairman and chief executive officer of iA Group financial.

The insurer also unveiled its results for the fourth quarter of 2018. Here, too, the profit is on the rise. It is established to 149,5 Million during the fourth quarter of 2018, compared to 132.8 M$ to the corresponding period in 2017.

Assets under management declined somewhat at the end of 2018 compared to December 31, 2017. It is located 168,8 billion dollars (G$) December 31, 2018. It was 169,5 G$ on the same date in 2017.

Increase in asset management, decrease in individual life

The financial results reported a sales growth of 25 % of guaranteed products in asset management individual in the fourth quarter of 2018, for a total of 104.8 M$. The insurer said y see a craze of the consumers for guaranteed products.

James Potvin, executive vice president, chief financial officer and chief actuary, says that iA financial Group has experienced some fluctuations of experience in individual insurance. In effect, the insurer has recorded a decrease of 10% of its income in this segment during the fourth quarter of 201/8 compared to 2017. “We have all generated a solid earnings from our core activities, which reflects the fundamental elements on which are based our activities. “

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