Willis Group has reported a net loss of $US7 million ($7.9 million) for the third quarter, improving on a $US27 million ($30.5 million) loss in the corresponding period last year.

It recorded total commission and fee growth of 2.1% in the quarter, with organic commission and fee growth at 2.5%.

CEO Dominic Casserley says organic growth is driven by Willis International – particularly emerging markets – and Willis North America.

“Within our Willis Global businesses, reinsurance continued to grow despite very difficult market headwinds, while the UK insurance business was down primarily due to a difficult comparison in the construction specialties division,” he said.

Total group revenue was $US812 million ($916 million) in the third quarter, up 2.1%.

Reported commissions and fees increased 2.1% to $US808 million ($911 million) from $US791 million ($892 million).

Willis reported restructuring expenses of $US17 million ($19 million) as part of its operational improvement program.

The program is expected to deliver cumulative cost savings of $US420 million ($474 million) to 2017 and annual cost savings of $US300 million ($338 million) from 2018.

Reported net income for the nine months to September 30 was $US286 million ($322.6 million), compared with $US297 million ($335 million) in the corresponding period last year.

Total commissions and fees were $US2.83 billion ($3.19 billion) for the nine months, up from $US2.72 billion ($3.07 billion).