AMP’s life insurance business is growing, with third-quarter cashflow figures showing annual premium income of $2 billion, up 6% on the previous corresponding period.

Income from individual lump sum cover was $978 million, up 7%, while premiums from individual income protection rose 9% to $404 million. Group life cash flow rose 3% to $353 million.

AMP’s New Zealand operations, reported in Australian dollars, had a mixed performance.

Individual lump sum cover recorded a 6% increase to $200 million, while individual income protection fell 5% to $35 million. Group risk premiums rose 3% to $31 million.