NAB Wealth has reported a stronger June quarter for its insurance business.

Inforce premiums increased in the three months compared with the previous period ending March 31, while net claims were stable for the quarter, the bank says.

It reported an unaudited net profit of $1.2 billion for the three months ending June 30.

Unaudited cash earnings were stable at about $1.4 billion.

NAB CEO Cameron Clyne says the Australian business has strengthened.

“Although subdued business and consumer confidence continue to affect the Australian economy, we remain positive about the outlook,” he said. 

“The Australian franchise remains a strategic priority and again produced some pleasing results in personal banking, while maintaining a strong position in business banking.”