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iA Financial says the deal will expand its national footprint and adds more than $40 billion in assets under administration to the firm.

It says the purchase price represents a 102 per cent premium to RF’s 30-day volume weighted average share price on the TSX.

iA Financial says the deal brings the total assets under administration in its wealth division to about $175 billion and creates scale advantages.

Founded in 1892, iA Financial Group says it is one of the largest insurance and wealth management groups in Canada. 

This report by The Canadian Press was first published July 28, 2025.

Companies in this story: (TSX:RCG; TSX:IAG)