Navacord partners with Steers Insurance

Canadian insurance brokerage Navacord has partnered with Steers Insurance, expanding into Newfoundland and Labrador and establishing a coast-to-coast presence across Canada.

Steers is the largest independent insurance brokerage in Newfoundland and Labrador, with eight locations, more than 100 employees and over C$110 million in gross written premium. It serves more than 25,000 individuals and businesses and also operates in Nova Scotia, New Brunswick and Prince Edward Island.

As part of the transaction, several Steers employees will become Navacord shareholders. The brokerage will retain its local leadership and operating culture while gaining access to Navacord’s resources and national platform.

The partnership is Navacord’s seventh transaction of 2026, following its merger with Acera Insurance announced in February. Navacord, which has more than 5,000 employees across over 150 offices, is working toward C$2 billion in annual revenue.

Navacord has been backed by private equity firm Madison Dearborn Partners since 2018.