Willis Group reported growth in commissions and fees for thethird quarter, but a net loss from continuing operations of $27million, after reporting a loss stemming from paying off highcost debt and fees related to the accelerated payoff.

These results compare to reported earnings per diluted share of15 cents in the third quarter of 2012. Foreign currency movementshad no net impact on earnings per diluted share during thequarter.

Adjusted net income from continuing operations, which excludesthe after-tax impact of the decision to accelerate the payment of$60 million in debt, was 19 cents a share. This compared to 22cents in the same quarter of the prior year.

However, management said both reported and adjusted results inthe third quarter of 2012 would have been 7 cents per share lowerhad a change in compensation policy been effective from thebeginning of 2012.

“Once again we delivered strong top line results, ourfourth consecutive quarter of mid-single digit organic growth withpositive contributions from each of our businesses,” said WillisGroup CEO, Dominic Casserley.

Casserley said this was in line with goals disclosed at thefirm's annual investor conference in July. These goals weregrowing revenues with positive operating leverage to improve cashflow and deliver strong shareholder returns.

He said the decisions made in the third quarter had the overalleffect of strengthening the company's by effectively refinancingportions of our nearer term debt into new debt with maturities outten and thirty years.

“We accomplished that while decreasing our overall debt costs,”he said.

Total revenues, which includes commissions and fees, investmentincome, and other income, were $795 million in the third quarter of2013, an increase of 5.4% compared to the year agoquarter.

Total reported commissions and fees for Willis Group improved to$791 million in the third quarter of 2013, up from $749 million inthe prior year quarter. Commissions and fees in the third quarterof 2013 were unfavorably impacted by $4 million of foreign currencymovements.