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.