A Canadian life insurer is posting record numbers in the US market. iA Financial Group, a Quebec City-based life and health carrier with a network of approximately 28,500 independent agents across the United States, reported US individual insurance sales of $97 million for the third quarter ended September 30, 2026 - up 24% year-over-year and the highest quarterly figure the company has recorded in the US.
The result is concentrated in the final expense and middle market segments, where iA reaches US consumers through its Vericity platform - which includes Fidelity Life and the eFinancial digital distribution business - alongside its broader independent agent network.
The timing is not coincidental. The US final expense market posted new annualized premium of $1.38 billion in 2025, a 32% jump, according to a July 2026 survey by the LIMRA-Life Insurers Council (LIC). Among the carriers surveyed, independent agents accounted for 75% of all final expense policies sold. iA’s distribution model - built almost entirely around independent agents rather than captive or direct channels - is aligned with the channel doing most of the work in the fastest-growing segment of the US individual life market.
The broader US individual life market posted new annualized premium of $17.5 billion in 2025, a 10% increase and the fourth record in five years, according to LIMRA’s annual individual life insurance sales survey. iA’s Q3 figure represents a quarterly high for the company’s US operation against that backdrop.
For agents placing final expense and simplified-issue life business, iA’s US footprint is worth understanding. Its Vericity subsidiary includes Fidelity Life, a carrier active in the simplified-issue and final expense space, and eFinancial, which operates as a digital distribution platform connecting consumers with independent agents for term and permanent life coverage. That combination of a licensed carrier and a distribution platform gives iA a presence at both ends of the independent agent relationship.
The company’s US Operations segment contributed core earnings of $37 million in Q3 2026, up 16% from Q3 2025, driven by growth in individual insurance. Core earnings strip out market-related movements in interest rates and credit spreads that affected net income, which fell 30% year-over-year to $255 million for the quarter. The company attributed the net income decline to unfavorable movements in interest rates, credit spreads, and investment property valuations - factors that do not reflect the underlying business performance.
iA’s solvency ratio stood at 131% as of September 30, 2026, against a regulatory minimum of 90% set by the Autorité des marchés financiers du Québec (AMF), Quebec’s primary financial services regulator. The board approved a 7% increase to the quarterly common share dividend, raising it to CAD$1.18 per share, payable December 15, 2026.
Denis Ricard, president and CEO of iA Financial Group in Quebec City, cited the company’s distribution capabilities as central to the result.
“Assets increased 30% over the last 12 months, while net premiums, premium equivalents and deposits were up 16% year-over-year. This strong business growth reflects the strength of our diversified business model, our distinctive distribution capabilities and the continued execution of our growth strategy,” Ricard said.
The final expense segment - simplified-issue whole life policies with smaller face amounts, typically designed to cover burial and end-of-life costs - has drawn renewed attention from carriers and independent agents alike as the US population ages and the coverage gap at the lower end of the market remains large. The LIMRA-LIC data confirms that independent agents are the primary point of sale for these products, which makes iA’s agent-channel-first model a structural fit for continued growth in the segment.
For independent agents already placing final expense business, iA’s Q3 figures confirm that Fidelity Life and the Vericity platform are part of a carrier group with the financial strength and distribution investment to remain a consistent market participant. Agents not currently placing business with iA’s US platforms may find the Vericity product range worth reviewing, particularly in markets where simplified-issue final expense options are in demand.
