Navacord

What Navacord does

Navacord is a Canadian insurance brokerage network founded in 2014 and headquartered in Toronto. The company provides commercial insurance, personal insurance, group benefits, retirement planning, wealth management, and risk management advisory services through a broker-partner model that unites independent brokerages under a single national brand while preserving local relationships and entrepreneurial autonomy. Its solutions span three service lines: Business Insurance (including cyber liability, professional liability, commercial property, commercial general liability, directors and officers liability, business interruption, and industry-specific coverage for construction, transportation, real estate, energy, dealerships, and marine); Personal Insurance (auto, home, travel, and Private Client services for high-net-worth individuals); and Benefits and Financial Services (group benefits consulting, group retirement, wealth management, and financial planning).

Navacord distributes its products through a network of 150+ offices across Canada staffed by 5,000+ insurance and financial services professionals, with 1,100 Canadian employee shareholders working in the business. The platform provides access to 200+ insurance carriers and specialty facilities, 100+ specialty underwriters, and 100+ risk management consultants across 100+ industries. Distribution is primarily advisory-led, combining enterprise field sales relationships with direct advisory support and online quote-request capture for SMB and personal lines.

The revenue model is commission-based: Navacord earns contingency and base commissions on insurance policies placed with carriers, alongside fee income from group benefits administration, wealth management, and retirement services on $7.5B in retirement assets under management. The company reports $5.2B+ in gross written premiums annually. Following the February 2026 merger with Acera Insurance, Navacord is positioned as Canada's largest privately held insurance brokerage, employee benefits, and wealth advisory firm. The company is privately held with no disclosed external private equity or venture capital funding.

Name

Navacord

Legal name

Navacord

Website

https://navacord.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Navacord is a Canadian insurance brokerage network providing commercial, personal, and group insurance, benefits, retirement, and risk management services to businesses, employers, and individuals. It operates 150+ offices across Canada with 5,000+ professionals and access to 200+ insurance carriers.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

Keywords

• Commercial insurance brokerage
• Personal insurance services
• Group benefits consulting
• Risk management advisory
• Wealth management services

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance brokerage commissions: Navacord generates revenue through commissions earned on insurance policies placed with insurance carriers. As a brokerage network, they earn contingency income and base commissions from insurance companies for arranging coverage for commercial and personal clients.
2. Group benefits and retirement administration: Revenue from designing and administering group benefits programs, retirement savings plans, and wealth management advisory services for employer clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Navacord is a Canadian insurance brokerage network that places commercial, personal, and group insurance coverages with insurance carriers on behalf of clients, earning commissions and contingency income. It also delivers group benefits consulting, retirement and wealth management advisory services, and risk management/loss control services through a network of broker partners and licensed advisors operating from 150+ offices across Canada. Following its 2026 merger with Acera Insurance, it operates as Canada's largest privately held insurance brokerage, employee benefits, and wealth advisory firm.

Product overview

Navacord is a Canadian insurance brokerage network and financial services firm offering a comprehensive portfolio of products organized across three main service lines: Business Insurance, Personal Insurance, and Benefits and Financial Services. The Business Insurance division provides core commercial coverage including cyber liability, professional liability (E&O), commercial property, commercial general liability, directors and officers liability, and business interruption insurance, along with specialized industry solutions for construction, transportation, real estate, energy, dealerships, and marine sectors. Personal Insurance encompasses auto, home, and travel insurance alongside high-net-worth Private Client Services. The Benefits and Financial Services arm delivers group benefits and consulting, wealth management, and retirement planning. Navacord operates a broker partner model, uniting independent brokerages under one national brand with shared technology, operations, and market access (200+ carriers). The company completed a transformational merger with Acera Insurance in 2026, becoming Canada's largest privately held insurance brokerage.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Insurance Comprehensive commercial insurance solutions for businesses of all sizes, covering property, liability, and specialized risks, delivered through licensed advisors across Canada.
• Cyber Liability Insurance Standalone cyber liability coverage for financial loss, business interruption, data recovery, cyber extortion, reputation recovery, and legal expenses related to cyber incidents, for businesses of all sizes.
• Professional Liability Insurance Errors and omissions (E&O) coverage protecting professional services firms against claims related to professional services, guidance, or advice, including legal defense costs and settlements.
• Commercial Property Insurance Protection for physical business assets including buildings, fixtures, inventory, and equipment against damage or destruction from insured events.
• Commercial General Liability Insurance Essential coverage protecting businesses against claims of bodily injury or property damage arising from operations.
• Directors and Officers Liability Insurance Protection for board members, owners, and managers from claims related to decisions made in leading the organization, including Side A, B, and C coverage.
• Business Interruption Insurance Financial support for organizations after covered disruptions, helping replace lost income and cover ongoing expenses during recovery.
• Fleet and Commercial Auto Insurance Commercial auto coverage designed for fleet operations and commercial vehicles.
• Private Client Services High-value insurance and risk management solutions for affluent individuals, covering homes, automobiles, valuables, watercraft, and lifestyle assets with dedicated advisory support.
• Auto Insurance Personal auto coverage including accident benefits, collision, comprehensive, third-party liability, and uninsured motorist protection for individual consumers.
• Home Insurance Personal coverage protecting homes, belongings, and personal liability, with optional add-ons for water protection, valuables, earthquakes, and cyber coverage.
• Travel Insurance Travel coverage including medical emergencies, trip cancellation, interruption, delay, and visitors to Canada coverage for individual consumers.
• Construction Insurance Specialized coverage for the construction sector including contractor insurance, project insurance, and bonds/surety for contractors, developers, and project owners.
• Transportation Insurance Coverage for fleets, logistics, and cargo supporting transportation businesses with auto, cargo, and fleet insurance solutions.
• Real Estate Insurance Insurance solutions for commercial and residential real estate portfolios, protecting properties, operations, and long-term asset value.
• Energy Insurance Specialized risk and advisory services for energy, oil and gas, and renewable energy companies across upstream, midstream, and downstream sectors.
• Dealership Insurance Coverage protecting dealership inventory, operations, showrooms, service bays, yards, and customer vehicles for auto, RV, motorsports, motorcycle, marine, and equipment dealerships.
• Marine Insurance Commercial marine coverage for vessels, cargo, port operations, and marine liability, including hull, protection and indemnity, and pollution coverage for marine businesses.
• Group Benefits and Consulting Employee benefits programs for employers including extended healthcare, disability insurance, critical illness, life insurance, and retirement savings programs combined with consulting services.
• Wealth Management Financial planning and wealth protection services helping clients define goals and build investment and retirement strategies.
• Group Retirement and Pension Programs Group retirement and pension programs for employers, designed and administered in coordination with group benefits and wealth management offerings.

Quantifiable outcome

• Trusted by businesses and families across 150+ Canadian locations
• +1 more outcomes

Segments11 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core, flagship and major.

• Steers Insurance LimitedcoreChannel Partner/ Reseller/ Distributor · 20 July 2026Partnership with Steers Insurance Limited marking Navacord's expansion into Newfoundland and Labrador, establishing complete coast-to-coast presence across Canada. This partnership brings additional broker partner locations to the Navacord network.
• Acera InsuranceflagshipStrategic or Co-development Partner · 3 February 2026Transformational merger with Acera Insurance completed, creating Canada's largest privately held insurance brokerage, employee benefits and wealth advisory firm. The combined entity brings together two industry leaders under unified leadership.
• Toronto Maple LeafsmajorGTM or Marketing Partner · 7 January 2026Navacord became official partner of the Toronto Maple Leafs NHL hockey team, gaining significant brand visibility and marketing association with a major Canadian sports franchise.
• Acera InsuranceflagshipStrategic or Co-development Partner · 3 December 2025Announced transformational merger between Navacord and Acera Insurance, combining two leading insurance brokerages to form a national champion with enhanced scale, capabilities, and market position.
• Vanta GroupcoreStrategic or Co-development Partner · 28 May 2025Strategic partnership with Vanta Group to expand into high-net-worth life insurance and estate planning, forming Navacord Vanta Life. This expansion provides Navacord clients with access to specialized wealth transfer and estate planning services.
• Citistar FinancialcoreStrategic or Co-development Partner · 20 January 2025Strategic partnership with Citistar Financial expanding Navacord's footprint in financial services. The partnership enhances capabilities in delivering comprehensive financial solutions to clients.
• Navis Marine Insurance BrokerscoreChannel Partner/ Reseller/ Distributor · 22 May 2024Partnership with Navis Marine Insurance Brokers expanding specialization in marine insurance. Navis brings deep expertise in marine and pleasure craft insurance to the Navacord network.
• Insurance Carriers (200+)coreChannel Partner/ Reseller/ DistributorRelationships with over 200 insurance carriers and specialty facilities enabling broker partners to access broad range of insurance products and coverage options for clients.
• Insurance Carriers and Specialty UnderwriterscoreChannel Partner/ Reseller/ DistributorAccess to more than 100 insurers and specialty underwriters for D&O insurance and other specialized coverage lines.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Marsh McLennan: Global incumbent insurance brokerage and risk advisory firm with Marsh Canada operations; competes for large enterprise and multinational accounts across commercial insurance, risk management, and benefits consulting.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with substantial Canadian operations (Gallagher Canada), competing in commercial P&C, employee benefits, and specialty practices across mid-market and enterprise accounts.
• Aon: Global insurance and reinsurance brokerage with Aon Canada operations; competes in commercial risk, health and benefits, and wealth management across enterprise and mid-market segments.

Regional players

• Capri Insurance Services: Western Canadian (BC-based) insurance brokerage serving commercial and personal lines; competes in similar verticals (construction, real estate, transportation) within overlapping Western Canadian geographies.
• Summit Insurance Brokers: Western Canadian insurance brokerage offering commercial and personal lines; a comparable mid-sized regional broker competing for similar commercial accounts in BC, Alberta, and Saskatchewan markets.

Direct peers

• Westland Insurance Group: Large Canadian-owned insurance brokerage with national presence across personal and commercial lines; competes directly in regional commercial and personal insurance brokerage markets across Western and Eastern Canada.
• Acera Insurance: Was Canada's largest privately held insurance brokerage prior to the February 2026 merger with Navacord; now operates as a wholly-owned subsidiary within Navacord, with overlapping commercial, benefits, and wealth capabilities.
• BrokerLink: Canadian insurance brokerage owned by Intact Financial Corporation with coast-to-coast retail and commercial brokerage operations; competes in both personal lines and commercial insurance placement across similar geographies.
• Jones DesLauriers Insurance Management: Canadian-owned insurance brokerage and risk management firm specializing in commercial P&C, claims management, and risk engineering; competes in similar mid-market commercial segments with comparable specialty practice depth.
• Hub International: PE-backed (CDPQ) North American insurance brokerage with significant Canadian operations through Hub International Ontario/HUB Financial; competes head-to-head in commercial P&C brokerage and benefits across similar verticals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/navacord
• LinkedInlinkedin.com/company/navacord
• Instagraminstagram.com/navacord

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Navacord