Brown & Brown, Inc. Announces the Asset Acquisition of Innovative Risk Solutions, Inc.
DAYTONA BEACH, FL — J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Sean Gormley, the sole shareholder of Innovative Risk Solutions, Inc. (“Innovative”), announced that Brown & Brown Metro, LLC has acquired substantially all of the assets of Innovative.
Innovative Risk Solutions was founded in 2004 by Sean Gormley with the goal of providing forward thinking employee benefits solutions for Innovative’s customers. The Innovative team brings a wealth of experience and a team approach in serving their valued customers. Following the transaction, Innovative will operate as a new stand-alone office within Brown & Brown’s Retail Segment and will continue doing business under the leadership of Sean Gormley from the office located in Atlantic County, New Jersey.
Rich Knudson, Senior Vice President in Brown & Browne’s Retail Segment, stated, “Sean and his incredibly capable team have built a highly efficient and forward-thinking employee benefits practice. The Innovative team shares Brown & Brown’s cultural values of placing the customer’s needs first and working as teammates to provide effective benefits insurance solutions. We are excited to welcome Sean and Innovative to the Brown & Brown team.”
Sean Gormley stated, “Maintaining value provided to customers in this rapidly evolving employee benefits industry will always be our primary focus, as technology and the regulatory environment continue to evolve. Joining with the Brown & Brown team allows us to continue to provide the level of service our customers appreciate, and with Brown & Brown’s nationwide presence, we will enhance our ability to serve customers outside of New Jersey, Pennsylvania and New York. Finding a partner with similar business philosophies and culture made this an easy decision.”