JLT Australia’s acquisition of the Recovre Group gives the broker national coverage in workplace rehabilitation for the first time, plus a “significant” revenue increase, according to CEO Leo Demer.

“It gives us the national spread we were looking for,” he told insuranceNEWS.com.au.

“We have a rehabilitation business called Workstreams, which operates in NSW and Victoria very well, but what Recovre gives us is a national coverage we did not have before.”

As reported in our Breaking News bulletin last week, workplace health, safety and rehabilitation services company Recovre has 24 offices across Australia and employs 280 staff.

“It’s a really good fit for us,” Mr Demer said. “It fits into our specialty business, particularly in the workcover offering we have. We are all pretty excited.”

He says the merger should be “quite quick”, with JLT seeking to bring Recovre staff into each of its offices as soon as possible. In some major locations leases are due to expire on JLT offices in the next year, enabling faster integration.

JLT says the Recovre business – to be added to the Benefit Solutions division under divisional Chairman Nick Harris – will enable it to develop innovative products and services in employee health and rehabilitation, and become the nation’s largest provider.

Anthony Zalakos will continue as a Recovre director, and Benefit Solutions GM Matt Bacon will become Recovre COO.

Founded in 1987 as a division of Allianz, Recovre has been owned by private equity company Hawkesbridge Capital since 2006.

JLT Group International Chairman of Employee Benefits Duncan Howorth says the deal marks a step forward for JLT’s global strategy to broaden its employee benefits capabilities.