Insurance brokerage and risk management firm, Brown & Brown has announced it has substantially acquired all the assets of Innovative Risk Solutions (Innovative).

Founded by risk management expert Sean Gormley in 2004, Innovative provides employee benefit solutions to its valued customers. Following the transaction, Innovative will operate as a new stand-alone office within Brown & Brown’s retail segment. It will continue doing business under the leadership of its president and sole shareholder Gormley from the office located in Atlantic County, New Jersey.

Brown & Brown retail segment senior vice president Rich Knudson acknowledged Gormley and his team’s “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,” Knudson noted. “We are excited to welcome Sean and Innovative to the Brown & Brown team.”

Meanwhile, Gormley said maintaining value provided to customers will always be their primary focus, as technology and the regulatory environment continue to evolve. 

“[W]ith Brown & Brown’s nationwide presence, we will enhance our ability to serve customers outside of New Jersey, Pennsylvania and New York,” Gormley added. “Finding a partner with similar business philosophies and culture made this an easy decision.”