Who are iA Financial's main competitors?

Named competitors: Sun Life Financial (SLF.TO), Manulife Financial (MFC.TO), Great-West Lifeco (GWO.TO). The cockpit's measured peer set (industry) also includes IGM Financial (IGM.TO), SEI Investments (SEIC), Guosen Securities (002736.SZ), Carlyle (CG), HDFC Asset Management (HDFCAMC.NS), Invesco (IVZ).

Is iA Financial expensive compared with its peers?

On forward p/e it trades at 13.9× against a peer median of 13.9×, 11th cheapest of 21 in its peer set.

How has iA Financial stock performed?

Over six months to 6 Nov 2026 the shares returned +29.1% against +4.2% for the median peer; over one year +29.4%.

← CockpitCompetitor Analysis › IAG.TO iA Financial Corporation Inc.Open in the cockpit ↗

iA Financial Corporation Inc.IAG.TOCompetitor analysis, valuation and peers

Canada · CAD·Financials›Investment Managers

Canadian life and health insurer and wealth management company, formerly known as Industrial Alliance.

≈ Canada's MetLife/Lincoln NationalMomentum leader 82

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$13.1B

US dollars, full cap

Free float

100%

of shares outstanding

$/day

$39.4M

20-day average traded

Fwd P/E

13.9×

forward earnings

ROIC−WACC

n/a

WACC 6.9%

Hurdle

n/a

no reverse DCF

Next earnings

3 days

9 Nov 2026

Close · CADC$210.72

1D-0.7%

1W-1.5%

1M+4.3%

3M-1.0%

6M+29.1%

YTD+18.5%

1Y+29.4%

ATR %2.2%

52w lowhigh5.8% off high

What iA Financial does

Canadian life and health insurer and wealth management company, formerly known as Industrial Alliance.

Earns from insurance premiums and the investment return on them, plus fees on mutual-fund and pension assets it manages. Advisers and brokers sell most of its products. A US arm, built through acquisitions, sells life insurance and, through car dealers, vehicle warranties, giving it income outside Canada.

In one line: Canada's MetLife/Lincoln National.

Products and services

Individual life insurance
Group insurance/wealth (pensions)
Auto/home insurance (P&C)
Wealth management/mutual funds

Customers

Retail life/health insurance policyholders
Group/employer benefit plans
Wealth management clients

Where it sits in the supply chain

Insurance
Life & health insurance
Wealth management + group insurance

What could go right

Wealth management AUM growth
Group insurance/benefits market share

What could go wrong

Interest rate sensitivity (life insurance liabilities)
Equity market cyclicality (wealth/AUM fees)

Moat: narrow (brand, distribution, scale). Long-established Canadian insurer brand with a broad advisor distribution network.

Headquarters: Quebec City, Canada · Founded: 1892 · Employees: 10,347

Named competitors

iA Financial at a glance

Size iA Financial (IAG.TO) is a Canada Financials company (Investment Managers) with a market value of $13.1B, the 64th largest of 420 Canada companies the cockpit tracks. Shares closed at C$210.72 on 6 Nov 2026.

Performance Over six months the shares gained 29.1%, against +4.2% for the median peer and +5.2% for the Canada market (cap-weighted) — highest of 20 in its peer set.

Growth Revenue grew 13.1% over the last twelve months (peer median +11.9%); the operating margin is 58.8% (peer median 34.9%).

Valuation It trades at 13.9× forward earnings against a peer median of 13.9× (11th cheapest of 21).

Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: iA Financial against the median of its 20 peers (local-currency closes).

iA Financial financials

Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	C$13.9B	C$11.3B	C$10.7B	C$11.2B	C$6.83B
Revenue growth	—	+6%	-5%	+64%	—
Net income	C$1.12B	C$1.10B	C$962M	C$789M	C$334M
Free cash flow	C$2.66B	C$3.21B	C$2.46B	C$3.91B	C$2.79B
Capital expenditure	C$279M	C$233M	C$278M	C$279M	C$287M
Total debt	C$1.99B	C$2.63B	C$2.92B	C$1.88B	C$2.07B

Quarterly statements and history in the cockpit →

iA Financial competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. iA Financial is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. iA Financial is the large dot.

iA Financial competitors and peer comparison

Head to head with its named competitors (IAG.TO vs SLF.TO vs MFC.TO vs GWO.TO)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
iA Financial IAG.TO	$13.1B	+29%	+13%	59%	13.9×	n/a
Sun Life Financial SLF.TO	$40.1B	+7%	-1%	58%	12.0×	n/a
Manulife Financial MFC.TO	$72.2B	+13%	+18%	15%	12.3×	n/a
Great-West Lifeco GWO.TO	$57.4B	+18%	+4%	48%	14.7×	n/a

How iA Financial compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

iA Financial against its 20 peers (data as of 6 Nov 2026)
Measure	IAG.TO	Peer median	Rank in peer set
1-month return	+4.3%	+1.9%	7th highest of 21
6-month return	+29.1%	+4.2%	highest of 20
Distance from 52-week high	-5.8%	-17.7%	highest of 21
Revenue growth (TTM)	+13.1%	+11.9%	9th highest of 21
Operating margin	58.8%	34.9%	5th highest of 21
Forward P/E	13.9×	13.9×	11th cheapest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
iA Financial IAG.TO	Canada	$13.1B	+29%	+13%	59%	13.9×	n/a	n/a
IGM Financial IGM.TO	Canada	$13.3B	+7%	+20%	36%	14.0×	n/a	n/a
SEI Investments SEIC	United States	$12.5B	+15%	+13%	30%	15.3×	n/a	n/a
Guosen Securities 002736.SZ	China	$13.9B	-16%	-10%	34%	7.9×	n/a	n/a
Carlyle CG	United States	$14.1B	-22%	-44%	14%	10.2×	n/a	n/a
HDFC Asset Management HDFCAMC.NS	India	$12.0B	-7%	+12%	80%	35.5×	n/a	n/a
Invesco IVZ	United States	$11.9B	-1%	+17%	24%	8.6×	n/a	n/a
DWS Group GmbH & Co. KGaA DWS.DE	Germany	$14.7B	+7%	+24%	37%	12.6×	n/a	n/a
ICICI Prudential Asset Management ICICIAMC.NS	India	$15.4B	-11%	+22%	73%	39.2×	n/a	n/a
Blue Owl Capital OWL	United States	$15.4B	-7%	+11%	17%	10.4×	n/a	n/a
SBI Funds Management SBIFUNDS.NS	India	$10.8B	n/a	+21%	89%	31.1×	n/a	n/a
Stifel Financial SF	United States	$10.7B	-7%	+8%	22%	10.3×	n/a	n/a
CVC Capital Partners CVC.AS	Netherlands	$16.9B	+10%	+14%	57%	18.1×	n/a	n/a
Franklin Resources BEN	United States	$17.1B	+10%	+8%	15%	10.6×	n/a	n/a
TPG TPG	United States	$17.9B	+4%	+21%	17%	13.8×	n/a	n/a
Affiliated Managers AMG	United States	$9.39B	+20%	+12%	22%	9.1×	n/a	n/a
HealthEquity HQY	United States	$8.57B	+22%	+7%	26%	20.5×	n/a	n/a
China Merchants Securities 600999.SS	China	$20.1B	+3%	-8%	76%	6.8×	n/a	n/a
Pershing Square PS	United States	$20.6B	+24%	+67%	37%	84.9×	n/a	n/a
Partners PGHN.SW	Switzerland	$21.3B	-24%	+9%	56%	16.7×	n/a	n/a
VZ Holding AG VZN.SW	Switzerland	$8.03B	+17%	+9%	45%	24.1×	n/a	n/a

Questions

Who are iA Financial's main competitors?: Named competitors: Sun Life Financial (SLF.TO), Manulife Financial (MFC.TO), Great-West Lifeco (GWO.TO). The cockpit's measured peer set (industry) also includes IGM Financial (IGM.TO), SEI Investments (SEIC), Guosen Securities (002736.SZ), Carlyle (CG), HDFC Asset Management (HDFCAMC.NS), Invesco (IVZ).
Is iA Financial expensive compared with its peers?: On forward p/e it trades at 13.9× against a peer median of 13.9×, 11th cheapest of 21 in its peer set.
How has iA Financial stock performed?: Over six months to 6 Nov 2026 the shares returned +29.1% against +4.2% for the median peer; over one year +29.4%.