{"id":1358,"date":"2024-03-07T12:36:06","date_gmt":"2024-03-07T12:36:06","guid":{"rendered":"https:\/\/financeify.ca\/?p=1358"},"modified":"2024-03-07T12:36:06","modified_gmt":"2024-03-07T12:36:06","slug":"ia-financials-earnings-rebounded-with-strong-second-quarter-sales","status":"publish","type":"post","link":"https:\/\/financeify.ca\/index.php\/2024\/03\/07\/ia-financials-earnings-rebounded-with-strong-second-quarter-sales\/","title":{"rendered":"IA Financial&#8217;s earnings rebounded with strong second-quarter sales"},"content":{"rendered":"<p><\/p>\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<figure class=\"wp-block-post-featured-image\">\n<div class=\"wp-block-post-featured-image__wrapper\"><\/div>\n<\/figure>\n<p>IA Financial Group bounced back from a difficult first quarter and reported year-over-year profit growth in second-quarter results released Thursday.<\/p>\n<p>The Quebec City-based company reported second-quarter net income attributable to shareholders of $188.2 million, up 1% from a year ago.  In the first quarter of 2020, IA&#8217;s net profits fell to $39.1 million as the Covid-19 pandemic hit markets.<\/p>\n<p>Diluted earnings per share were $1.71 compared to $1.69 a year ago and $0.35 in the first quarter of 2020.<\/p>\n<p>Individual insurance sales were $52.9 million, up 10% year-over-year in the second quarter and year-over-year, IA reported.<\/p>\n<p>Individual wealth management underwritten sales of $174.9 million increased 79% year-over-year.  Net inflows into segregated funds and mutual funds were $466.9 million in the second quarter.<\/p>\n<p>The company reported A<span class=\"xn-money\">Assets under management and administration were $181.0 billion as of June 30, down 2% from a year earlier but up from $175.7 billion as of March 31. <\/span>The company noted that assets increased compared to the first quarter even after the sale of IA Investment Counsel Inc.  to CWB Financial Group, which closed on June 1.<\/p>\n<p><!-- *** MAIN COLUMN END *** --><\/p>\n<div class=\"main-column-end\"><\/div>\n<div class=\"authors__wrapper\"><\/div>\n<\/div>\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/insurance\/life\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"eyJsYW5ndWFnZSI6WyJlbl9VUyJdLCJkZXZpY2UiOlsiZGVza3RvcCJdLCJ1cmwiOlsiaHR0cHM6XC9cL3d3dy5hZHZpc29yLmNhXC9pbnN1cmFuY2VcL2xpZmVcL2lhLWZpbmFuY2lhbHMtcHJvZml0cy1yZWJvdW5kLXdpdGgtc3Ryb25nLXNhbGVzLWluLXNlY29uZC1xdWFydGVyIl0sImFpIjpbIjE5NzgxNCJdLCJhdGl0bGUiOlsiaWEtZmluYW5jaWFscy1wcm9maXRzLXJlYm91bmQtd2l0aC1zdHJvbmctc2FsZXMtaW4tc2Vjb25kLXF1YXJ0ZXIiXSwicGFnZS10aXRsZSI6WyJJQSBGaW5hbmNpYWwncyBwcm9maXRzIHJlYm91bmQgd2l0aCBzdHJvbmcgc2FsZXMgaW4gc2Vjb25kIHF1YXJ0ZXIiXSwidGl0bGUiOlsiSUEtRmluYW5jaWFsLXMtcHJvZml0cy1yZWJvdW5kLS0tQWR2aXNvci1zLUVkZ2UiXSwiZnVsbF90aXRsZSI6WyJJQS1GaW5hbmNpYWwtcy1wcm9maXRzLXJlYm91bmQtd2l0aC1zdHJvbmctc2FsZXMtaW4tc2Vjb25kLXF1YXJ0ZXIiXSwicGFnZS10eXBlIjpbInBvc3QiXSwicGciOlsiY29udGVudCJdLCJzcyI6WyJsaWZlIl0sInNlY3Rpb24iOiJpbnN1cmFuY2UiLCJjYXRlZ29yeSI6WyJMaWZlIl0sImNhdCI6WyJJbnN1cmFuY2UiLCJMaWZlIl0sInRhZ3MiOlsiRWFybmluZ3MiLCJJbnN1cmFuY2UiXSwiYXV0aG9yIjpbIk1hcmsgQnVyZ2VzcyJdLCJzcG9uc29yIjpbXSwic3BvbnNpZCI6W10sInByb3BEZXB0aCI6IjEiLCJ0ZXN0cGFnZSI6WyIiXX0=\"><\/div>\n<\/div>\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/insurance\/life\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"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\"><\/div>\n<\/div>\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"nua-ad nua-ad--vertical \" data-ad-unit-path=\"\/95740733\/advisor\/insurance\/life\/article\/\" data-ad-title=\"Advertisement\" data-ad-targeting=\"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\"><\/div>\n<\/div>\n<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IA Financial Group bounced back from a difficult first quarter and reported year-over-year profit growth in second-quarter results released Thursday. The Quebec City-based company reported second-quarter net income attributable to shareholders of $188.2 million, up 1% from a year ago. In the first quarter of 2020, IA&#8217;s net profits fell to $39.1 million as the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[642,716,728,387,729,712],"class_list":{"0":"post-1358","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-seg-fund-investments","8":"tag-earnings","9":"tag-financials","10":"tag-rebounded","11":"tag-sales","12":"tag-secondquarter","13":"tag-strong"},"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IA Financial&#039;s earnings rebounded with strong second-quarter sales - Financeify<\/title>\n<meta name=\"description\" content=\"IA Financial Group bounced back from a difficult first quarter and reported year-over-year profit growth in second-quarter results released Thursday. 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