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Honan Insurance Group (Honan), one of Australia’s fastest-growing brokers, today announced its acquisition of Rehab Life, an accredited provider of vocational rehabilitation, injury management, and workplace risk services.
Established in 2013, Rehab Life harnesses its team of health professionals, including occupational therapists, physiotherapists, exercise physiologists, rehabilitation counsellors and psychologists, to help people return to work following injury.
Workplace injuries continue to significantly impact Australian employers, with recent data from Safe Work Australia showing that a median 6.6 weeks are lost per serious workplace claim, while the median compensation paid per claim totals $13,500. Claims data from Honan also showed shoulder injuries were the costliest to workplaces, with the average claim tallying $11,500 and with 15.5% of shoulder injury claims exceeding $100,000.
The acquisition will see Honan’s risk consulting team draw on Rehab Life’s unique expertise in rehabilitation wellbeing and return to work services, an important strategic growth channel that will allow Honan to deliver even more value for clients with respect to employee health and wellbeing.
M&A activity continues to be a defining strategic pillar for Honan, driving a compounded annual growth of 30% over the last three years. This is the fourth acquisition made by Honan in the last six months.
Honan Chief Executive Officer, Andrew Fluitsma, said:
“Our relationship with Rehab Life and Grant Bourne started in 2015 when we worked together to establish our workplace risk division, and we’ve since grown to be trusted partners”.
“Acquiring Rehab Life will help us to add allied health expertise to our risk consulting team, creating more opportunities for more specialised, value-added service for our clients”.
Rehab Life Chief Executive Officer, Grant Bourne, said:
“We have nurtured a relationship with Honan over several years, achieving great things together. We’re excited for this next chapter in our shared history. Honan is the right fit for us as they are one of the fastest growing brokers in the Asia-Pacific region, providing us the necessary footprint to expand our services.”
The acquisition will see the business join the Honan family, continuing to operate under the Rehab Life name.
Founded in 1964, and headquartered in Melbourne, Honan is disrupting the traditional broker model. With more than 350 employees from offices in Australia, New Zealand, Singapore, and Malaysia, and through exclusive access to independent insurance and risk advisors via the Worldwide Broker Network, Honan partners with diverse organisations from global and ASX 100 corporations, to property managers, NFPs, start-ups, and sole traders. Thanks to its innovative, customer-led approach and deep sector experience, Honan adds value to clients beyond just insurance, through comprehensive risk profile assessments and clear, easy-to-understand advice.
Founded in 2013, Rehab Life is a boutique occupational rehabilitation, injury management and workplace risk provider operating under the SIRA and Comcare frameworks. The business employs health professionals, including occupational therapists, physiotherapists, exercise physiologists, rehabilitation counsellors and psychologists, with the primary aim of assisting injured workers return to work.
Media Contacts:
Keep Left (on behalf of Honan)
Mitchell Blincoe
0427 801 843
