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Broker launches for open market placement

Broker launches for open market placement | Insurance Business UK

Broker launches for open market placement

There is a new broker on the scene, after Coverys European Holdings (CEH) confirmed the launch of Celeritas.

A European broker with a focus on binder business and open market placement, it is the broking business of the AEC Wholesale Group, the MGA that CEH picked up back in January. However, it is set to operate independently of the AEC brand with binders and risks sourced working with syndicates across Lloyd’s and the wider markets.

The firm will be led by London- and Milan-based managing director Tiziano Migliorino.

“Celeritas is an ambitious business with a solid growth trajectory, which will undoubtably be strengthened as part of the CEH network,” he said. “It is a pivotal time for intermediaries in Europe to demonstrate their relevance, which Celeritas ultimately does by its commitment to technology and operating efficiency. I look forward to leading the entrepreneurial team toward profitable new horizons.”

Migliorino joins the firm from Miller Insurance, where he was head of international – wholesale Europe. He has also held roles with the likes of Markel Syndicate and AIG, and Steven Spano, chief executive officer of CEH, believes he is the right man to lead the brand forward.

“Since the launch of CEH we have identified a clear demand for greater distribution options,” said Spano. “By diversifying our operations and creating a distribution platform, we put ourselves in a better position to serve both our rapidly expanding network and peers with the appetite to take on highly profitable, specialised risks.

“Tiziano is a highly respected and knowledgeable insurance specialist who has deep-rooted expertise in the European insurance market. We are pleased to have him at the helm of Celeritas, to carve out a firm position for CEH throughout Europe and the UK.”