Method

• 1.
  Preheat oven to 180°C/160°C fan-forced. Grease base and sides of a 11.5cm x 20cm (base) loaf pan and line base and sides with baking paper.
• 2.
  Place cold chopped butter in a medium saucepan over medium heat and cook, whisking constantly, for 3-4 minutes, until butter turns lightly brown and has a nutty aroma. Transfer to a heatproof bowl and set aside to cool slightly.
• 3.
  While the burnt butter cools, place the flaked almonds in a small bowl and cover with water. Stand for 10 minutes.
• 4.
  Meanwhile, make the frangipane. Whisk the butter and sugar in a medium bowl until well combined. Whisk in the egg until combined, then stir in almond meal until combined. Set aside.
• 5.
  Whisk the 3 eggs and sugar in a large bowl until pale. Sift over flour, then stir until combined. Add cooled burnt butter and rum and stir until combined. Spoon one-third of the batter into prepared pan. Spoon half the frangipane over the batter. Repeat with remaining batter and frangipane, finishing with a layer of batter.
• 6.
  Drain the almonds and pat dry with paper towel. Sprinkle over batter. Bake for 55 minutes, or until a skewer inserted into the centre comes out clean. Stand loaf in pan on a wire rack for 10 minutes, then remove from pan and set aside to cool slightly on the wire rack.
• 7.
  Serve warm or at room temperature, dusted with icing sugar.