The following is a summary of the IGM Financial Inc. (IGIFF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• IGM Financial reported a record Q1 adjusted EPS of E0.94, an 8% increase year-on-year.

• The company's AUM&A increased to $422 billion, about a 21% increase from the same period last year.

• IGM reported net outflows of $128 million for Q1 2024.

• The company distributed $146 million of capital to shareholders during the quarter, including $12 million in share repurchases.

• Over $400 million in unallocated capital was held by IGM at quarter's end.

• Steady growth was witnessed in the insurance sector, noting the highest average case size ever in a quarter and first-year commissions increased 36% over the past five years.

Business Progress:

• IG Wealth ended Q1 with an AUM of $128 billion, showing a 10% year-over-year growth and a 5.6% quarterly growth.

• IG Wealth registered net inflows of $223 million during Q1, with shares increasing from both mass affluent and high net worth clients.

• IGM's main capital allocation priority is ensuring the long-term success and growth of its core businesses.

• IGM runs a share buyback program to offset dilution and may repurchase more shares based on its other capital allocation priorities.

• IGM's strategic investment, Wealthsimple, ended the quarter with an AUA of $39 billion, showing an 82% year-over-year growth.

• IG Wealth aims to digitalise its insurance business further through a partnership with Life Design Analysis, a fintech leader in the insurance space.

More details: IGM FINANCIAL INC IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.