Navacord to merge with Acera

Navacord Corp. and Acera Insurance Services Ltd. today announced plans to merge, creating the largest privately held insurance brokerage, employee benefits and wealth advisory firm in Canada, the firms say. 

The two firms will have a combined $7.2 billion in insurance and employee benefits premium, plus $7.5 billion in retirement assets under management. 

The merger is expected to close in 2026 Q1. Acera Insurance will eventually operate under the Navacord brand.

Navacord founders T. Marshall Sadd and Shawn DeSantis, and Acera founders Lee Rogers and Andrew Kemp, tell Canadian Underwriter in a statement: “Together, we are building something truly monumental for our industry. As long-time peers (for more than 30 years), and leaders of two proudly Canadian firms, we recognize the value of joining forces and what our combined strength could unlock for our clients, people, partners and communities. 

“We are united by a shared vision: to create a true Canadian champion in the insurance brokerage sector as we accelerate our journey towards becoming the country’s largest privately held insurance brokerage, employee benefits and wealth advisory firm.” 

The deal, the founders say, will “harness our complementary strengths, highly specialized expertise and scale,” while also growing sustainably.  

Their combined salesforce will be 5,000-plus insurance and financial services professionals in more than 150 locations. 

Alyssa DiSabatino

Alyssa Di Sabatino has been a reporter for Canadian Underwriter since 2021, covering industry trends, market developments, and emerging risks.