The new year kicks off with an acquisition for Navacord. On January 20, the insurance brokerage announced that it has acquired Vancouver-based Citistar Financial, a life insurance managing general agent.

Since 1999, Citistar has been offering personalized life insurance solutions. “We have over 1,000 advisors serving communities across Canada,” stated Citistar on its website.

A pivotal move 

This acquisition is part of Navacord’s ongoing expansion into financial services and specialty lines. “Our partnership with Citistar Financial is a pivotal move for Navacord as we continue to expand and diversify our offerings within the financial services sector,” stated Shawn DeSantis, President and CEO of Navacord.

Contacted by the Insurance Portal, Navacord confirmed that this is its first acquisition of 2025. Last November, the company, which has accumulated $5 billion in premiums, announced the acquisition of a Quebec brokerage and consulting firm, Jones DesLauriers Consulting. That acquisition was the brokerage consolidator’s 11th of 2024.