The CEO of Canadian insurer iA Financial Corp. is targeting a multibillion-dollar acquisition in the US market following the company's record valuation earlier this year. The Montreal-based firm, which operates both insurance and money management businesses, is seeking to capitalize on its strong market position to expand south of the border.

iA Financial's push into the US comes as the company reaches new heights in its home market. The firm's record valuation provides financial flexibility for major deals, with executives eyeing opportunities to scale operations through strategic acquisitions. This expansion strategy reflects growing pressure on Canadian financial institutions to find growth beyond domestic markets.

The move signals iA Financial's ambition to compete with larger North American players. By pursuing significant US acquisitions, the company aims to diversify revenue streams and tap into the massive American insurance and wealth management markets. The strategy could reshape the competitive landscape for mid-tier financial services firms seeking to establish a stronger cross-border presence.