Navacord and Acera Insurance announce merger

Canadian insurance brokers Navacord and Acera Insurance are merging to create “the country’s largest privately held insurance brokerage, employee benefits and wealth advisory firm.”

The organizations are expected to have $7.2 billion in insurance and employee benefits premium, $7.5 billion in retirement assets under management, ~5,000 insurance and financial services professionals, and more than 150 locations nationwide.

Acera Insurance will eventually operate under the Navacord banner.

“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.” – T. Marshall Sadd, Executive Chairman, and Shawn DeSantis, President and CEO, Navacord.

“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.” – Lee Rogers, Chief Executive Officer, and Andrew Kemp, Executive Vice President, P&C and Chairman, Acera Insurance.