Australian Unity says general insurance operating revenue grew 8.4% to $1.1 million in the first half, driven by a stronger contribution by broking.

Insurance is part of the personal financial services division, which reported unchanged revenue of $32.3 million.

The company says regulatory changes such as the Future of Financial Advice reforms, MySuper reforms, new professional standards for advisers and Life Insurance Framework recommendations affected the business.

Changes to complaints schemes, compensation schemes of last resort and the start of the self-funding model for the Australian Securities and Investments Commission also contributed to a backdrop of continual change.

“The personal financial services business seeks growth in this context as a differentiated provider, within a mutual organisation, with a clear focus on helping clients and members to thrive,” it said.

Australian Unity reported an overall profit of $73.3 million, including a $64.8 million impact from the sale of Grand United Corporate Health.

Net profit from continuing operations fell to $8.5 million from $12.8 million.