iA Financial Corporation Inc. Q2-2020 Earnings, Price Target
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iA Financial Corp(IAG, AIF.B, G, I), is a Canadian insurance company offering life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, and vehicle warranty insurance. Business segments include; Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations. Business growth is measured by growth in sales, premiums and assets under management and administration. Sales measure their ability to generate new business and are defined as fund entries on new business written during the period. Net premiums include both fund entries from new business written and from inforce contracts. Assets under management and administration measure the Company's ability to generate fees, particularly for investment funds and funds under administration.
Operations are organized in five sectors: Individual Insurance and Individual Wealth Management that address the needs of retail customers; Group Insurance and Group Savings and Retirement that address the needs of businesses and group clients and the U.S. Business sector. Business growth in 2019 was comprised of: 14% from premiums, premium equivalents and deposits from Canadian Individual Insurance, 43% from Individual Wealth Management, 16% from Group Insurance, 18% from Group Savings and Retirement, 4% from general insurance operations and 6% from U.S. Business. By region, 4.5% of premiums, premium equivalents and deposits in 2019 came from the Atlantic Provinces, 38% from Quebec, 29.7% from Ontario, 22% from the Western provinces and 5.8% from the United States
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