Oct 27 (Reuters) - Insurance broker Brown & Brown ( BRO )

posted a higher third-quarter adjusted profit on Monday,

helped by stronger commissions and fees as demand continued to

rise.

Insurance spending has kept rising as businesses and

individuals cut back elsewhere, driven by efforts to protect

against climate-related disasters and new risks like cyber

threats.

The sector's resilience comes from its role as a financial

safety net, leaving it less affected by changes in discretionary

spending or broader economic slowdowns.

Its commissions and fees jumped 34.2% to $1.55 billion in

the three months ended September 30.

Insurance brokerages like Brown & Brown ( BRO ) act as

intermediaries between insurers and customers, helping clients

choose policies that best suit their coverage needs.

Unlike agents who usually represent one insurer, brokerages

work with several providers to give clients a wider range of

options.

Brown & Brown's ( BRO ) total revenue increased to $1.61 billion

in the reported quarter, from $1.19 billion in the year earlier.

The company's investment and other income rose to $56

million in the quarter, versus $31 million a year earlier.

Insurers earn investment returns by investing the premiums

they collect in low-risk assets such as bonds and real estate

until claims are paid out.

Brown & Brown's ( BRO ) adjusted net income per share was $1.05 in

the third quarter. That compares with 91 cents per share a year

earlier.