Scott Penny, Chief Acquisitions Officer of Brown & Brown, (BRO), and Scott Engel, the principal and founder of Liberty Insurance Brokers, and its related affiliate companies (collectively Liberty), announced the acquisition of certain assets of Liberty by Brown & Brown of Pennsylvania, a subsidiary of Brown & Brown.
Liberty and its affiliate companies were founded by Scott Engel in 1996 and provide commercial and personal lines insurance for the multi-family residential industry primarily in Pennsylvania and New Jersey. Liberty has annual revenues of approximately $4.0 million.
As part of the transaction, Scott Engel and his team will combine with Brown & Brown PA’s existing Plymouth Meeting, Pennsylvania profit center under the leadership of Rob Heller.
Rich Knudson, President of Brown & Brown PA, stated, "Scott had the vision to develop a product to serve the unique needs of the owners of small multifamily developments in 1996. He and his team have worked hard in the past nineteen years to refine the offering to meet the needs of Liberty’s clients and carrier partners and to develop other complementary offerings.
Scott Engel stated, "I’m extremely excited to be with a firm that has the long time integrity and sophistication of Brown & Brown. I am confident that operating as part of the Brown & Brown team will enhance our future opportunities."
Brown & Brown, through its subsidiaries, offers a broad range of insurance and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services.