S&P rates iA Financial A-

S&P said it assigned an A- long-term issuer credit rating to iA Financial Group's non-operating holding company, iA Financial Corp. Inc.

The agency also said it affirmed the A+ financial strength rating on iA Financial.

The outlook is stable.

iA has maintained a very strong financial risk profile, S&P said, and its strong business risk profile is improving due to a growth in sources of non-insurance earnings.

The company also has an operating performance that compares favorably to peers in recent years, the agency said.

The increase in non-insurance earnings has largely been due to the success of the HollisWealth acquisition, but rate increases in the group's auto and home insurance businesses also have contributed to strong operating performance, S&P said.

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