Cut the peaches in half, deseed and slice into wedges. Combine the peach slices, rum, 1/3 cup sugar, nutmeg and 2 tablespoons of flour in a mixing bowl and stir gently to coat. Spoon the mixture into one large baking dish or individual ramekins. Set aside while you make the topping.
Process the flour, salt and butter to resemble crumbs, or alternatively rub with your fingers to achieve the same texture.
In a separate bowl, beat the egg and sugar until thick and creamy, then add the milk and vanilla and beat until incorporated. Fold this into the flour mixture without over-stirring. The batter should be slightly crumbly and not smooth. Roughly drop the batter over the peaches then sprinkle over the 2 tablespoons of almond meal. Bake for 30-45 minutes or until golden.
Before serving, sprinkle over the raw sugar and serve with cream.