It is with great pleasure that I write to advise you of significant developments for our business. On
30th January 2015, the Rehabilitation Services entered into a partnership agreement with
Austbrokers Holdings Limited which sees them take a 60% stake in our business. This is an enormous endorsement of our business, our people and our future.
Austbrokers Holdings Limited is Australia and New Zealand’s leading equity-based insurance distribution, underwriting agency and risk services group. AUB is a public company, listed on the Australian Stock Exchange (ASX: AUB).
AUB employs a unique owner-driver business model, where businesses retain active control while benefitting from group-level operational support. AUB comprises more than 70 equity businesses, representing over 450,000 clients with in excess of $2.5 billion of gross written premium.
AUB operates three market leading business divisions – an insurance broking network (Austbrokers), specialised underwriting agencies (Austagencies) as well as a risk services division, of which Rehabilitation Services will be the largest business in the network. All three business divisions are supported by market leading operational and technology services to drive the efficiency and effectiveness of each equity business.
The selection of AUB as a long term partner was taken after a lengthy period of consideration and diligence. We believe AUB offers us the opportunity to realise our geographic growth ambitions in a carefully considered manner, to better serve our national clients. It is those clients who have provided the impetus to our undertaking of a partner search over the past 12-months and we are grateful for their continued support as we seek to expand our geographic footprint in 2015 across Australia and into New Zealand.
We are very confident that our relationship with AUB will be of great mutual benefit to both organisations. We share similar values, similar philosophies and great optimism on the future of our industry.
Whilst a hugely exciting opportunity for the business, this partnership will not alter our focus or our mission. With all of the management team continuing in normal operations, we very much remain a company that will continue to strive for delivering the quality benchmark in professional rehabilitation and injury management services, and we will continue to put you our client at the centre of what we do. Clients will continue to receive the level of service, expertise and value that you have become accustomed to, and our model of operation will not change. It is our role to continue to build the legacy of our history and the work we have done to date.
We look forward to continuing to be of service to our clients into the future.
Rehabilitation Services Pty Limited