AMP’s individual and group life insurance net cash flow in the first quarter to March 31 was $193 million, slightly down from the $198 million in the corresponding period last year.

Total individual life insurance cash flow was $305 million, compared to $283 million in the same period last year.

Group life cash flow was $80 million, down from $82 million.

Annual premium income was $1.91 billion compared to $1.88 billion.

In Australia individual lump sum annual premium income was $920 million, slightly down from $923 million.

Income protection premiums eased slightly to $373 million compared to $376 million.

Group life premiums were also down from $351 million to $346 million.  

In New Zealand, individual lump sum premiums were $192 million, income protection $37 million and group life $31 million. The results showed an improvement on premium income in the corresponding first quarter last year.