AMP's premium income up

For example, individual risk annual premium income (API) rose 4% to $292 million in the six months ended June 30 – the year earlier figure of $281 million is restated to include AXA's results which have been consolidated in the latest results for the first time.

Excluding AXA, AMP's 2011 first-half income in this category, the bulk of its business in New Zealand, was $160 million.

“We invested significantly to bring together two of New Zealand's most enduring enterprises and iconic brands,” says AMP financial Services New Zealand managing director Jack Regan.

“The integration of the businesses is tracking ahead of plan and the increased scale is enabling AMP to develop market-leading capability to better support advisers and improve service to customers.”