Brown & Brown Q3 profit up 33%

(Reuters) — Brown & Brown Inc. Monday reported a 33% rise in third-quarter profit, helped by higher revenue from commissions and fees coupled with strong investment returns.

The brokerage said after markets closed that its total revenue increased 11% from the year-earlier period to $1.19 billion. Commissions and fees jumped 10% to $1.16 billion, while

investment income surged to $31 million from $17 million in the year-earlier period

Net profit rose to $234 million, or 81 cents per share, compared with $176 million, or 62 cents per share, in last year’s third quarter.

Shares of the company rose 1% in trading after the bell.