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Navacord Corp.
Navacord Corp. was founded in 2014 when four independent Canadian insurance brokerages—Lyndsey & Associates, Pegasus Insurance Brokers, Silver Insurance...
Navacord Corp.
Navacord Corp. was founded in 2014 when four independent Canadian insurance brokerages—Lyndsey & Associates, Pegasus Insurance Brokers, Silver Insurance Brokers, and Speck Insurance Brokers—merged with backing from Brookfield Business Partners and the firms' management teams. Shawn DeSantis, previously a senior executive at Aon Reed Stenhouse, became CEO. The founding consortium created a platform to consolidate Canada's fragmented commercial insurance brokerage market. The firm focuses on commercial property and casualty insurance, employee benefits, and risk management advisory for mid-market and large corporate clients across Canada. Navacord acquires independent brokerages, typically keeping local brands and management in place while providing scale, technology, and carrier relationships. Its geographic footprint primarily spans Ontario, Alberta, and British Columbia, with some operations in the Atlantic provinces. Navacord's head office is in Toronto. The firm does not publicly disclose revenues or headcount. In 2021, Brookfield Business Partners exited its investment, selling its stake to an undisclosed buyer group that included existing management and new institutional investors (per The Globe and Mail, 2021). Navacord is structurally distinct from most Canadian brokerages because it operates as a partnership model where acquired founding brokers retain equity and leadership roles. This structure aligns incentives for long-term growth rather than a full private-equity exit within a fixed timeframe. The firm's governance blends private-equity ownership with founder-led operating companies.
General information
Firm type
Other
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, Ontario, Canada
Principals
Shawn DeSantis
President and CEO
Rob Hoogendam
Chief Financial Officer
Sam McGairl
Chief Operating Officer
Clare Paterson
Chief Human Resources Officer
Vincent Tardio
Chief Growth Officer
Sector focus
Frequently asked questions
Who owns Navacord Corp.?
Navacord was originally backed by Brookfield Business Partners at its founding in 2014. In 2021, Brookfield exited its stake, selling to an undisclosed group that included management and new institutional investors (per The Globe and Mail, 2021). The current ownership structure includes the founding management team and external institutional capital, but specific investors are not publicly identified.
How does Navacord execute its acquisition strategy?
Navacord acquires independent insurance brokerages across Canada, typically retaining the local brand, management team, and employees. The acquired firm's principals often reinvest into Navacord's partnership structure, receiving equity in the parent company. This model incentivizes continued growth while providing acquired brokers with access to Navacord's carrier relationships, technology, and administrative support.
What lines of insurance does Navacord offer?
Navacord provides commercial property and casualty insurance, employee benefits, personal insurance, and risk management advisory. Its primary focus is the mid-market commercial segment in Canada, serving industries such as construction, manufacturing, transportation, and professional services.
Is Navacord a single family office, a private equity firm, or an operating company?
Navacord is an operating company—a national insurance brokerage—not a family office or investment firm. It is structured as a corporation backed by institutional investors, not as a family office. It does not manage outside capital for allocators.
Where is Navacord headquartered and what is its geographic focus?
Navacord is headquartered in Toronto, Canada. Its operations concentrate on Ontario, Alberta, and British Columbia, with some presence in the Atlantic provinces. The firm primarily serves Canadian-based commercial clients.
Does Navacord publicly report its financial performance?
No. As a privately held company, Navacord does not disclose revenues, AUM, EBITDA, or other financial metrics. Its ownership structure, including the identity of its institutional investors after Brookfield's exit, is not fully public.
What is Navacord's hiring or team size?
Navacord does not publicly disclose total headcount. The firm's leadership team includes a CEO, CFO, COO, CHRO, and Chief Growth Officer. It employs insurance professionals across its acquired brokerages, but no aggregate number is available from public sources.
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