Navacord, a Toronto-based insurance brokerage, announced on July 20, 2026 a partnership/acquisition of Steers Insurance Limited, marking its entry into Newfoundland and Labrador and completing a coast-to-coast footprint across Canada. Steers is described as the largest independent insurance brokerage in Newfoundland and Labrador, with eight province-wide locations, operations in Nova Scotia, more than 100 employees, and over $110 million in gross written premium, serving over 25,000 individuals and businesses. Steers traces its roots to the 1800s-era Steers organization and holds longstanding relationships with Lloyd's of London and other markets. As part of the transaction, a number of Steers colleagues will become shareholders in Navacord, a structure Navacord says preserves local leadership through shared ownership. Navacord CEO Shawn DeSantis called it an important milestone in expanding into a new province, and Executive Chairman T. Marshall Sadd praised Steers' reputation and technical expertise. Steers principals Jason Sharpe and Jeff Sharpe said joining Navacord gave them access to greater scale while retaining their culture. The deal is Navacord's seventh transaction of 2026, following its February 2026 merger with Acera Insurance, and forms part of the company's push toward $2 billion in annual revenue. Navacord has been backed by private equity firm Madison Dearborn Partners since 2018.