UPDATE 2-Insurance broker Willis posts higher 3rd-qtr profit
* Willis Q3 profit more than doubles
* Helped by higher revenue, offsetting rising expenses
* Adjusted per shr profit beats Wall St view
(Adds financial detail, analyst estimate)
NEW YORK, Oct 26 (Reuters) - Willis Group Holdings (WSH.N), the world's third largest insurance broker, said on Monday that quarterly net income more than doubled, helped by a jump in revenue, driven by its acquisition of a smaller rival.
Willis said third-quarter net earnings from continuing operations rose to $78 million, or 46 cents per share, from $36 million, or 25 cents a share, in the year-earlier quarter.
On an adjusted basis, the profit was 53 cents compared with 32 cents in the year-ago quarter. Analysts had on average expected a profit per share of about 37 cents, according to Thomson Reuters I/B/E/S.
Willis recorded a 28 percent jump in commissions and fees to $714 million, offsetting lower investment income and outpacing a 25 percent increase in expenses.
The company credited much of the increase in revenue to its acquisition of U.S. competitor Hilb Rogal & Hobbs last year.
Willis shares closed down 10 cents in the regular session at $26.52, before the earnings report was issued. The stock has traded in a range between $18.52 and $28.67 over the past year, according to Reuters data.
Willis has headquarters in New York and London and recently said it would move its incorporation to Ireland from Bermuda. (Reporting by Lilla Zuill, editing by Leslie Gevirtz)
