Navacord and Acera Insurance Announce Transformational Merger
Together, firms build toward becoming Canada’s largest privately held insurance brokerage, employee benefits and wealth advisory firm
Toronto, ON (Dec. 3, 2025) – Navacord Corp. and Acera Insurance Services Ltd., two industry-leading Canadian insurance brokers, are merging and poised to create the country’s largest privately held insurance brokerage, employee benefits and wealth advisory firm. The transaction, which is structured as a plan of arrangement under Alberta corporate law, is subject to achieving regulatory, court and shareholder approvals and is expected to close in the first quarter of 2026.
The organizations are expected to represent a combined strength of $7.2 billion in insurance and employee benefits premium, $7.5 billion in retirement assets under management, 5,000-plus insurance and financial services professionals, and more than 150 locations nationwide.
This merger will be led by longtime peers of 30 years: Navacord founders T. Marshall Sadd and Shawn DeSantis, and Acera founders Lee Rogers and Andrew Kemp, each of whom has deep roots in Western Canada. The deal stands as a testament to their shared culture of collaboration and mutual respect.
“This marks a defining moment for both Navacord and Acera. Uniting our organizations allows us to build a stronger, more resilient, and more forward-looking brokerage for the Canadian market,” says T. Marshall Sadd, Executive Chairman, and Shawn DeSantis, President and CEO, Navacord.
Creating a true Canadian champion in the insurance brokerage sector while preserving the employee ownership model that has long strengthened independent brokers, the proposed merger is about Canadians serving Canadians and delivering a client value proposition that is unmatched in the marketplace.
“By combining our business with Navacord, we’re accelerating what we set out to achieve as Acera Insurance: becoming the leading Canadian brokerage for the benefit of our clients, employees and communities,” says Lee Rogers, Chief Executive Officer, and Andrew Kemp, Executive Vice President, P&C and Chairman, Acera Insurance.
Uniting as one company reinforces a commitment to sustainable growth and investments in industry-leading talent, technology and capabilities to strengthen the client experience, including areas like underwriting facilities, captives, claims, actuarial services, analytics and risk management.
This landmark deal is expected to transform the national insurance landscape with a goal to create Canada’s top commercial insurance and employee benefits brokerage, with deep expertise across sectors including construction, real estate, transportation, auto dealers, hospitality and energy.
Acera Insurance will eventually operate under the Navacord banner as the brokerage continues its process to amplify its national strength and presence under one unified brand.
About Navacord
Headquartered in Toronto, ON and with more than 3,700 professionals in over 100 offices across the country, Navacord delivers expert advice and tailored solutions in commercial and personal insurance, travel and specialty, group benefits, retirement, and financial planning.
As of November 1, 2025, Navacord has begun transitioning its Broker Partners to operate under a unified, national brand. While some legacy brands remain in transition, this evolution reflects Navacord’s commitment to delivering consistent client experience, fostering innovation, and strengthening its national presence while maintaining a commitment to our communities, deep regional expertise, and local service.
Navacord has been backed by private equity firm Madison Dearborn Partners since 2018. For more information, please visit navacord.com.
About Acera Insurance
Acera Insurance is the largest independent, employee-controlled Canadian brokerage.With 1,300 employees in over 50 offices across Canada, and more than 700 employee-owners, Acera Insurance provides custom insurance and risk management solutions for personal and commercial clients nationwide, including comprehensive group benefits capabilities. Trusted by generations of Canadians, Acera Insurance brings greater value, expertise and resources to individuals, families and businesses from the Pacific to the Atlantic and into the Territories. For more information, visit www.acera.ca.
Forward-Looking Statements
This news release contains forward-looking statements with respect to Navacord Corp. Acera Insurance Services Ltd and their respective affiliates. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include the ability of Acera and Navacord to satisfy the closing conditions included in their definitive arrangement agreement. No party is under any obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise (unless required by law).
SOURCE: Navacord
Tags: Acera Insurance, merger, Mergers & Acquisitions, Navacord