iA Financial Group reported core earnings of C$330 million for the second quarter of 2026, or core diluted earnings per share of C$3.68, up 5% from the same period in 2025.
Net income attributed to common shareholders rose 20% to C$384 million, with diluted earnings per share up 25% to C$4.28. Beneath a strong overall result, two specific product lines show measurable impact from provincial and federal policy changes that brokers working those niches should be tracking closely.
Core return on common shareholders' equity for the trailing 12 months reached 17.5%, in line with the company's 2026 target of 17% or higher. Net premiums, premium equivalents and deposits rose 25% to more than C$6.3 billion, while total assets under management and administration climbed 37% over the past year to exceed C$374 billion.
Wealth Management core earnings rose 37% to C$155 million, driven by strong sales and favorable financial markets. For brokers whose books skew toward insurance rather than wealth products, this growth is a useful reminder of where iA's strategic emphasis is shifting, and worth keeping in mind when assessing the carrier's long-term investment in insurance product lines.
Creditor insurance sales at iA's Dealer Services unit fell 10% year over year, a decline the company directly attributed to Quebec's Bill 30, also known as Law 15, which introduced new requirements for selling creditor insurance through dealerships.
For brokers placing or advising on creditor insurance, this confirms the regulation is having a measurable commercial effect rather than just adding compliance friction.
Quebec has previously acted first on point-of-sale insurance restrictions before other provinces followed, so brokers operating outside Quebec may want to watch whether similar rules spread to their own jurisdictions.
Separately, iA's Special Markets sales fell to C$83 million from C$99 million a year earlier, which the company said reflected lower sales of international student medical insurance following federal government measures capping the number of international students entering Canada.
For brokers or MGAs with exposure to this line, the decline is not a one-quarter blip. It reflects an ongoing federal policy decision that will likely keep suppressing volume for as long as the caps remain in place. Brokers with this business in their book should factor that into revenue projections rather than assume a rebound.
Core earnings in the Insurance, Canada segment fell 4% to C$128 million against an unusually strong prior-year comparison. The company noted that higher claims from a heavy rainfall event in June 2026 at iA Auto and Home were largely offset by lower claims elsewhere in the segment, a minor but relevant data point for property brokers tracking how Canadian personal lines insurers are absorbing this year's severe weather activity.
Individual Insurance sales held steady at C$102 million, with the company maintaining its leading position in Canada by number of policies issued.
"Our diversified business model continued to demonstrate its strength in the second quarter, as broad-based performance across our businesses, led by Wealth Management, generated solid earnings and robust capital generation," said Denis Ricard, president and chief executive officer of iA Financial Group.
The company's solvency ratio stood at 137% as at June 30, 2026, supported by a C$500 million subordinated debenture issuance completed in May. Organic capital generation reached C$180 million in the quarter, keeping the company on track to meet its full-year target of at least C$700 million. Capital available for deployment stood at C$1.1 billion.
For brokers outside creditor insurance or international student coverage, iA's quarter is a strong, diversified result with limited direct relevance.
But for brokers working either of those two lines, the numbers confirm that regulatory shifts already in motion, provincial in one case and federal in the other, are actively reshaping sales volumes rather than sitting as theoretical risks worth building into forward planning now.
