iA Financial Corporation Inc T.IAG

Alternate Symbol(s): IAFNF

Financial Services Insurance - Diversified

iA Financial Corporation Inc. is a holding company, which offers a range of life and health insurance products and other financial products and services. The Company's segments include Insurance, Canada; Wealth Management; US Operations; Investment, and Corporate. The Insurance, Canada segment includes life and health insurance products, auto and home insurance products, creditor insurance, replacement insurance and warranties, extended warranties and other ancillary products for dealer services, and specialized products for special markets. It also engaged in offering Final Expense and Term Life products. Wealth Management segment includes products and services for savings plans, retirement funds and segregated funds, in addition to securities brokerage (including cross-border services), trust operations and mutual funds. Its US Operations segment includes life insurance products and extended warranties relating to dealer services sold in the United States.

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iA Financial Corporation Inc

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Post by retiredcfon Jun 03, 2021 8:53am

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Post# 33317690

TD Notes

We maintain our OVERWEIGHT stance on the banks, but we favour the insurers (Manulife and Industrial Alliance) that are trading at a discount to their peers over the banks. Our outlook is influenced by the view that Q1/21 will be seen as an anomaly for the insurers. Specifically, we believe that the move in interest rates and the resulting impact on reported earnings and LICAT that impacted investor confidence in Q1/21 will give way to a focus on the underlying fundamentals in Q2/21. Looking out to H2/21 and 2022, we expect the banks with greater rate sensitivity and card portfolios, and more generally, more room for improvement in non-CMRR fee income, to outperform. In this context, we favour Royal and BNS over BMO and NA.