AMP has reported a slight improvement in life insurance annual premium income for the three months to March 31, rising to $1.75 billion from $1.74 billon.

All life categories saw premium income rise in the first quarter.

Individual lump sum premiums were $984 million, up from $982 million in the corresponding period last year.

Income protection premiums grew to $409 million from $407 million, and group sales saw a slight increase to $361 million from $357 million.

Total Australian wealth protection net cashflows increased to $206 million from $193 million a year earlier.

Individual life insurance net cashflows grew to $179 million from $163 million, but group life net cashflows dropped to $27 million from $30 million.

AMP’s dealer groups reported mixed net cashflow results.

AMP Financial Planning had net cashflows of $141 million, compared with a $39 million deficit in the corresponding period last year.

Charter Financial Planning performed strongest, with net cashflows of $149 million for the quarter, up from $36 million.

Ipac recorded a negative cashflow, but it reduced losses to $34 million from $87 million in the first quarter last year.

Direct distribution reported net cashflows of $72 million, down from $117 million.