Two Navacord broker partners to merge in November
Navacord broker partners Lloyd Sadd Insurance Brokers and Iridium Risk Services will merge Nov. 1, 2025, “creating one of the largest and most experienced full-service brokerages in Western Canada,” Navacord announced Tuesday.
“This partnership marks a significant milestone for both companies, providing enhanced services, innovation, and expertise for their valued clients,” Navacord says in a press release. “The merger represents a path to growth for Lloyd Sadd, a founding Navacord broker partner, and Iridium, a Navacord broker partner since 2015, both leaders in their respective areas that offer specialized industry-based advice and technical expertise tailored to the unique needs of their clients.”
Lloyd Sadd provides a variety of personal and commercial insurance products, along with benefits, pensions and investment offerings, among others. For its part, Iridium Risk Services provides risk management advice and insurance coverage solutions to companies operating in the energy, industrial, technology and other complex industries, according to its website.
“The merger allows the combined organization the ability to offer a broader array of services and expertise as a true multi-line player, including insurance, benefits and pension, life and wealth management, and private client solutions,” Navacord says.
Calgary-based Iridium will form a new division, Lloyd Sadd Specialty, that will focus on providing expertise and service options to complex and risk-managed clients, Navacord reports.
Top managers at Iridium and Lloyd Sadd will continue to hold leadership roles in the combined organization, with Andy Barker taking on the role of vice president of Lloyd Sadd Specialty.
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Sponsor ImageBerto Di Manno, president & CEO of Iridium, will move into the role of executive chairman and Chris Huebner will retain the role of president & CEO of the combined business.
Founded in 2014 and headquartered in Toronto, Navacord is one of Canada’s largest and fastest-growing multi-line insurance brokerages and financial services firms, with more than 50 local brands from coast to coast. With $5 billion in premiums, Navacord’s offerings include commercial and personal insurance, travel and specialty, group benefits, and financial planning.
