Oct 30 (Reuters) - Insurance broker Willis Towers Watson WTW.O beat third-quarter profit expectations on Thursday, underpinned by robust performance in its risk and brokerage business.

Shifting trade policies, persistent inflation, and geopolitical challenges have boosted demand for risk management, a core area of expertise for WTW.

Revenue from WTW's risk and broking unit, which advises clients on risk management and lets them negotiate and place policies with insurers, rose 7% to $1.01 billion in the quarter on a reported basis, driven by higher project-based placements in its specialty businesses.

WTW has also been expanding its global presence, securing new client wins in the Middle East, a key market for the company.

"As we enter the fourth quarter, our sustained momentum and continued traction in the market give us confidence in our ability to reach our full-year financial goals, despite macro uncertainty," said CEO Carl Hess in a statement.

Adjusted net income rose to $301 million, or $3.07 per share, in the three months ended September 30, compared with $282 million, or $2.77 per share, a year earlier.

Analysts on average had expected a profit of $3.05 per share, according to estimates compiled by LSEG.

Insurance brokerages serve as a bridge between insurers and customers, helping clients find a policy that best suits their needs. They generally pocket a percentage of the premiums paid to insurers as commissions.

Total revenue was roughly flat at $2.29 billion in the reported quarter due to the sale of its TRANZACT business, which contributed $1.14 to adjusted profit per share last year.

Shares of WTW have risen 1.4% this year, while those of Aon AON.N and Marsh & McLennan MMC.N have fallen 9.2% and 15.3%, respectively.

The company repurchased $600 million worth of shares during the reported quarter. Last month, WTW had boosted its share repurchase program by $1.5 billion.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shailesh Kuber)

((ArasuKannagi.Basil@thomsonreuters.com;))