April 28 (Reuters) - Insurance brokerage Brown & Brown ( BRO )

reported a 13% rise in first-quarter profit on Monday,

benefiting from higher income from commissions and fees.

Insurance brokerages, such as Brown & Brown ( BRO ), serve as a

bridge between an insurer and customers, helping clients find a

policy that best suits their needs. Unlike insurers, they do not

directly sell policies.

Economic uncertainty, coupled with increased business risk

from cyber attacks and natural disasters, has sustained

insurance spending as risk management becomes more critical than

ever.

Brokers like Brown & Brown ( BRO ) benefit as consumers buy more

insurance product, earning revenue on the sale of such products.

The company's commissions and fees jumped 12% to $1.39

billion in the three months ended March 31.

The company's investment and other income, however, dropped

to $19 million in the reported quarter from $21 million in the

year-ago period.

Earlier this month, peer Marsh McLennan's ( MMC ) beat Wall

Street estimates for first-quarter profit.

Brown & Brown ( BRO ) is one of the largest independent insurance

brokerages in the U.S. specializing in risk management. It

operates through four business segments - retail, national

programs, wholesale brokerage and services.

Net profit attributable to Brown & Brown ( BRO ) rose to $331

million, or $1.15 per share, in the January-to-March quarter,

compared with $293 million, or $1.02 per share, last year.

Brown & Brown ( BRO ), which specializes in risk management,

reported an 11.6% jump in total revenue to $1.40 billion.

In February, the company named former Willis Re and Inver Re

CEO Steve Hearn as chief operating officer.

Shares of the company rose marginally in trading after the

bell.