BRITISH COLUMBIA – Navacord Corp. and Acera Insurance Services Ltd. are merging and poised to create the country’s largest privately held insurance brokerage, employee benefits and wealth advisory firm.
The organizations are expected to represent a combined strength of $7.2 billion in insurance and employee benefits premiums, $7.5 billion in retirement assets under management, 5,000-plus insurance and financial services professionals, and more than 150 locations nationwide.
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.
This merger will be led by long-time 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.
“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 Sadd, Executive Chairman, and DeSantis, President and CEO of Navacord.
Creating a true Canadian champion in the insurance brokerage sector while reserving the employee ownership model that has long strengthened independent brokers, the proposed merger is about Canadians serving Canadians.
“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 Rogers, Chief Executive Officer, and Kemp, Executive Vice President, P&C and Chairman of Acera.
This landmark deal aims to transform the national insurance landscape with a goal to create Canada’s top commercial insurance and employee benefits brokerage, with 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 comes under one unified brand.
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