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Navacord partners with Steers Insurance to expand in Atlantic Canada
The deal brings Steers Insurance into Navacord’s platform, adds Newfoundland and Labrador coverage, and is expected to total $7.2 billion in insurance and employee benefits premium across the combined organizations.
Canadian insurance brokerage Navacord has partnered with Steers Insurance to expand its footprint into Newfoundland and Labrador and create a coast-to-coast presence across Canada, according to Coverager.
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, and Steers 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. Acera Insurance is set to formally operate under the Navacord brand effective November 1, 2026, and the organizations are expected to have $7.2 billion in insurance and employee benefits premium.