Navacord and Acera Insurance Successfully Complete Transformational Deal
Merging Two Leading Insurance Brokerages Creates Canadian Champion
Toronto, ON (Feb. 3, 2025) – Navacord Corp. and Acera Insurance Services Ltd. are pleased to announce the successful completion of their previously announced merger. Effective February 2, the transaction formally closed following confirmation of all required regulatory, court and shareholder approvals.
The completion of the transaction officially brings together two industry-leading Canadian insurance brokerages, forming one of the country’s largest privately held insurance, employee benefits and wealth advisory firms. This merger also reinforces the power of the employee ownership model that has built the foundation for both businesses, now positioning Navacord as one of the largest employee-owned brokerages in Canada, enabling a continued focus on clients, communities and employees.
Combined, the organizations represent approximately $7.2 billion in insurance and employee benefits premium and $7.5 billion in retirement assets under management. Backed by more than 5,000 insurance and financial services professionals across more than 150 locations nationwide, we have united to deliver industry-leading expertise and measurable value for clients.
“With the transaction now complete, our focus is on a thoughtful integration that advances our vision of a true Canadian champion, while preserving the strengths of both organizations in a way that best supports our clients, partners and employees,” says T. Marshall Sadd, Executive Chairman, and Shawn DeSantis, President and CEO, Navacord.
As part of the integration, Lee Rogers and Andrew Kemp have each been appointed Vice Chairs of Navacord. Both will join the Navacord executive team and remain actively involved in building the business, in addition to serving on the Navacord Board. They will continue to lead Acera Insurance’s business in their current roles as the organizations move towards a formal amalgamation effective November 1, 2026.
“The completion of this transaction reflects our shared belief in the value of collaboration, Canadian ownership, and employee engagement,” says Lee Rogers, CEO, and Andrew Kemp, Executive Vice President, P&C, Acera Insurance. “By bringing Acera Insurance and Navacord together, we are building a stronger organization that remains deeply rooted in the communities we serve, positioning us to enhance our service promise of local touch, national strength.”
Through a deliberate integration process that will ensure a smooth transition, Acera Insurance will formally operate under the Navacord banner effective November 1, 2026, alongside the remaining Broker Partners transitioning to the unified Navacord brand.
To learn more about this merger, view the Navacord | Acera Merger Video here.
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.
SOURCE: Navacord
Tags: Acera Insurance, merger, Mergers & Acquisitions, Navacord