Navacord Corp. and Acera Insurance Services Ltd., through parent company Acera Holdings Ltd. (AHL), entered into a definitive arrangement agreement on December 1, 2025 to merge via a court-approved plan of arrangement under the Business Corporations Act (Alberta), with closing on February 2, 2026 following regulatory, court and shareholder approvals. The combination creates one of Canada’s largest privately held insurance, employee benefits and wealth advisory firms, representing approximately C$7.2 billion in insurance and employee benefits premium, C$7.5 billion in retirement assets under management, more than 5,000 insurance and financial services professionals, and over 150 locations nationwide.

The transaction also results in Clairvest Group Inc. and Clairvest Equity Partners VI exiting their minority interest in Acera, with the sale expected to increase Clairvest’s book value by approximately C$4.00 per share over its carrying value as at September 30, 2025. Acera, formed in 2022 through the merger and recapitalization of Rogers Insurance and CapriCMW, has over 750 employee shareholders and completed 24 tuck-in acquisitions during Clairvest’s three-year partnership. Fasken acted as legal counsel to Acera Insurance Services Ltd. and Acera Holdings Ltd. on the merger.