Coverys European Holdings unveils new Lloyd’s broker Celeritas

Coverys European Holdings (CEH), an agency platform and network specialising in MGAs throughout Europe and the UK, has launched a new Lloyd's broker Celeritas for open market placement and binder business.

Based in London and Milan, Celeritas will be led by managing director Tiziano Migliorino, who joins the company from Miller Insurance. He was the head of international wholesale Europe at Miller, where he co-led the business’s international wholesale professional risks division and helped expand Miller’s reach across mainland Europe. Before that, Migliorino was a senior vice president at Guy Carpenter. He began his career as an underwriter and held various roles at AIG and Markel Syndicate.

As the broking business of MGA AEC Wholesale Group, which was acquired by Coverys in January, Celeritas will trade independently of the AEC brand.

AEC will continue to operate as an MGA and third-party claims administrator (TPA).

Binders & risks sourced by Celeritas will work with syndicates across Lloyd’s and wider company markets.

Steven Spano, chief executive officer, Coverys European Holdings, said: “Since the launch of CEH we have identified a clear demand for greater distribution options. 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.”

Migliorino said: “Celeritas is an ambitious business with a solid growth trajectory, which will undoubtably be strengthened as part of the CEH network. 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.”