Individual disability income insurance made an underwriting gain of $231 million in the three months to March, extending its profitable streak to five quarters, the latest prudential data shows.

The line last made a loss – an $86 million deficit – in the December 2023 quarter, according to the Australian Prudential Regulation Authority update.

The March profit is up from $138 million in the previous quarter but down from $419 million a year earlier.

The profitable run comes several years after APRA sounded alarms over individual disability income product design and pricing and introduced extra capital requirements and other measures.

Other widely watched risk products also delivered profits in the March quarter.

Group disability income insurance made $22 million; group lump sum $9 million; and individual lump sum $117 million.

The industry made an overall underwriting profit of $425 million in the March quarter, up from $10 million in the December period but weaker than the year-earlier $579 million gain.

It returned a net profit after tax of $332 million following a $15 million loss in the prior quarter. The March profit was down from $628 million a year earlier.