iA Financial Reports Resilient Q3 Earnings Despite Weaker Wealth and Asset Management Sales
iA Financial Corporation Inc. posted net income of $215 million in Q3 2022, a decrease of 1% year over year. Notable items include a $41 million gain on a reinsurance transaction on the U.S. individual insurance business and $35 million in write-downs related to the Company's digital transformation. The return on equity (ROE) was 13.2% for the quarter, which is in line with Q3 2021 results, while the core ROE is within the Company's target of 13% to 15%.
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