QUEBEC
CITY, Aug. 29, 2024 /CNW/ - iA Financial
Group (TSX: IAG) (the "Company") today provided an update on the
claims associated with the heavy rainfalls that occurred on
August 9 and 10 in Quebec.
The Company is aware of the difficulties that clients are facing
following this event and is actively working on providing them with
needed support and assistance. All teams and resources available
have been mobilized to meet the needs of clients.
"Our priority is to provide our clients the support they need in
these trying times. All our teams at iA Auto and Home are working
tirelessly to meet our clients' needs as quickly as possible, given
the high call volumes. We will continue to make every effort to
ensure that our clients feel confident and secure in the times
ahead," commented Pierre Miron,
Executive Vice-President, Chief Growth Officer Canadian Operations
at iA Financial Group.
To date, the Company estimates that the impact on third-quarter
results related to this weather event will be less than
$10 million compared with
expectations, after tax and net of reinsurance. In the event that
new claims related to major weather events occur or if the
estimated amount of claims specific to the August event differs
significantly from that mentioned above, the Company will issue an
update.
Forward-Looking Statements
This document may contain statements relating to strategies used
by iA Financial Group or statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "may", "will", "could", "should", "would",
"suspect", "expect", "anticipate", "intend", "plan", "believe",
"estimate" and "continue" (or the negative thereof), as well as
words such as "objective", "goal", "guidance", "outlook" and
"forecast", or other similar words or expressions. Such statements
constitute forward-looking statements within the meaning of
securities laws. In this document, forward-looking statements
include, but are not limited to, information regarding estimated
claims costs. These statements are not historical facts; they
represent only expectations, estimates and projections regarding
future events and are subject to change.
Although iA Financial Group believes that the expectations
reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties, and undue reliance
should not be placed on such statements.
Additional information about the material factors that could
cause actual results to differ materially from expectations and
about material factors or assumptions applied in making
forward-looking statements may be found in the "Risk Management"
section of the Management's Discussion and Analysis for 2023, the
"Management of Risks Associated with Financial Instruments" note to
the audited consolidated financial statements for the year ended
December 31, 2023 and elsewhere in iA
Financial Group's filings with the Canadian Securities
Administrators, which are available for review at sedarplus.ca.
The forward-looking statements in this document reflect iA
Financial Group's expectations as of the date of this document. iA
Financial Group does not undertake to update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the
occurrence of unanticipated events, except as required by law.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth
management groups in Canada, with
operations in the United States.
Founded in 1892, it is an important Canadian public company and is
listed on the Toronto Stock Exchange under the ticker
symbol IAG (common shares).
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iA Financial Group is a
business name and trademark of iA Financial Corporation Inc.
and Industrial Alliance Insurance and Financial Services
Inc.
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SOURCE iA Financial Group