On February 28, 2023, DBRS Limited (DBRS Morningstar) confirmed all ratings on iA Financial Corporation Inc. (iA or the Company) and its related entities, including iA’s Issuer Rating, at “A” and Industrial Alliance Insurance and Financial Services Inc.’s Financial Strength Rating at AA (low). The trends on all ratings are Stable.
DBRS Morningstar released a commentary discussing our outlook for the Canadian life insurance industry in 2023. Key highlights include the following: -- Despite continued market uncertainty, the outlook for Canadian life insurers is stable, reflecting their strong fundamentals, diversified businesses, and high levels of capital. High current ratings and previous upgrades make rating movements less likely, particularly on the upside. -- Premium growth and net sales of managed funds may be lim...
On March 2, 2022, DBRS Limited (DBRS Morningstar) confirmed all ratings on iA Financial Corporation Inc. and its related entities, including iA’s Issuer Rating at “A” and Industrial Alliance Insurance and Financial Services Inc.’s Financial Strength Rating at AA (low). The trends on all ratings are Stable.
DBRS Limited (DBRS Morningstar) notes that on March 10, 2021, the Saskatchewan Court of Appeal (the Court) issued rulings in favour of The Manufacturers Life Insurance Company and Industrial Alliance Insurance and Financial Services Inc. and BMO Life Assurance Company (collectively, the Respondents) in the Mosten Investment LP, Ituna Investment LP, and Atwater Investment LP (collectively, the Applicants) cases regarding the right of the Applicants to deposit unlimited amounts in certain universa...
Please refer to PDF document for more detail about our research: DBRS Morningstar Places Ratings of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc. Under Review with Positive Implications
On December 16, 2019 DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating of iA Financial Corporation Inc. at A (low) and the rating on its Subordinated Debentures at BBB (high). For Industrial Alliance Insurance and Financial Services Inc., iA’s major insurance operating subsidiary, DBRS Morningstar confirmed the Issuer Rating and Financial Strength Rating at A (high), the Subordinated Debentures rating at “A,†and the Non-Cumulative Preferred Shares rating at Pfd-2 (high). All tre...
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