* Q3 adj EPS C$0.77 vs avg estimate C$0.73
* Return on equity 12.6 percent
* Stock down 1.7 pct at C$31.16
TORONTO, Nov 3 (Reuters) - Industrial Alliance Insurance and Financial Services IAG.TO, Canada’s No. 4 insurer, said on Wednesday its third-quarter profit rose 10.8 percent, driven by a 15 percent rise in premiums and deposits.
The Quebec City-based company said net income on regular operations was C$65.4 million ($64.8 million), or 77 Canadian cents a share, in the three months ended Sept. 30. That compared with a profit of C$59 million, or 73 Canadian cents a share, in the year-before period.
Analysts had expected a profit of 73 Canadian cents a share, according to Thomson Reuters I/B/E/S.
Return on equity was 12.6 percent. The company has a target range of 12 to 14 percent for that key measure of profitability.
Industrial Alliance shares were down 54 Canadian cents, or 1.7 percent, at C$31.16 on the Toronto Stock Exchange.
$1=$1.01 Canadian Reporting by Cameron French; editing by Rob Wilson