Axa Asia Pacific has reported a 93% increase, to $2.19 billion, in net retail fund flows for its Australian and NZ operations for the nine months to the end of September.

There were also increases in Axa’s local superannuation, business investment and life insurance businesses.

CEO Andy Penn says only Axa’s income protection operations were dampening the overall Australian and NZ results.

“Market behaviour in financial protection remains concerning. We continue to focus on growing our business on a profitable basis.”