For the fourth quarter ended December 31, 2014, Industrial Alliance Insurance and Financial Services Inc. reports net income attributed to common shareholders of $112.4 million, up 23% over the previous year.

Read: Profit from shareholder activism

After accounting for the premium of $0.04 per share related to the redemption of the Series E preferred shares on December 31st, diluted earnings per common share (EPS) rose to $1.11 from $0.91 a year ago. The annualized return on shareholders’ equity (ROE) was 13.4%.

For the twelve-month period, net income attributed to common shareholders was $400.4 million, a year‑over‑year increase of 14%. Diluted EPS, after payment of the previously mentioned premium, amounted to $3.97 compared with guidance of $3.40–$3.80, and ROE was 12.4% compared with guidance of 11.0%–12.5%. It’s the third consecutive year the company has exceeded its annual earnings guidance.

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