Wikilah admin: Created page with "{{Infobox company | name = Evolve MGA | legal_name = Evolve Cyber Insurance Services LLC | logo = Logo of Evolve MGA.svg | logo_size = | logo_alt = | logo_caption = | type = Private — cyber-focused MGA | exchange = | ticker = | isin = | lei = | license_type = Ca..."

2026-03-09T05:22:21Z

Created page with "{{Infobox company | name = Evolve MGA | legal_name = Evolve Cyber Insurance Services LLC | logo = Logo of Evolve MGA.svg | logo_size = | logo_alt = | logo_caption = | type = Private — cyber-focused MGA | exchange = | ticker = | isin = | lei = | license_type = Ca..."

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{{Infobox company
| name = Evolve MGA
| legal_name = Evolve Cyber Insurance Services LLC
| logo = Logo of Evolve MGA.svg
| logo_size =
| logo_alt =
| logo_caption =
| type = Private — cyber-focused MGA
| exchange =
| ticker =
| isin =
| lei =
| license_type = California insurance license (0K40961)
| npn =
| coverholder_ref =
| incorporation = California
| founded = {{Start date and age|2015}}
| headquarter =
| domicile = California
| insurance_jurisdictions = All 50 U.S. states (NexGen policy)
| regulator =
| ultimate_parent = Brown & Brown, Inc.
| shareholders =
| key_people = Michael Costello, Co-founder Patrick Costello, Co-founder (departed late 2025) Adam Kembrooke, CEO and President, Nexus Underwriting U.S.
| num_employees = approximately 30 cyber specialists (2020)
| customer_segments = SMEs with cyber risk exposures up to $250M, with some classes up to $500M
| lines_of_business = Cyber liability Technology errors and omissions
| segments =
| products = Evolved NexGen cyber policy EVO4.0 cyber policy (historical) EVO 3.0 cyber policy (historical) Standalone Technology E&O
| technology_platform = Proprietary mobile app (dark web monitoring, network scanning, phishing simulation) Data Breach Calculator (NetDiligence / eRiskHub)
| capacity_providers = Lloyd's of London (current, NexGen policy) Zurich Insurance plc (historical, EVO4.0) HDI Global Specialty SE (historical, EVO4.0) XL Catlin Insurance Company UK Limited (historical, EVO4.0) Fidelis Underwriting Limited (historical, EVO4.0)
| distribution = Direct-to-retail broker (3,000+ broking partners, July 2023)
| geographic_markets = United States (all 50 states)
| num_customers = approximately 6,000 policyholders (July 2023)
| competitors = Coalition At-Bay Cowbell Cyber Corvus Insurance Resilience CFC Underwriting Limited
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| last_round = Acquisition by Nexus Underwriting, July 2023
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{{Summary:Evolve MGA|5}}
{{More details}}
{{Section separator}}
== Corporate and regulatory profile ==

🏢 '''Legal entity.''' The operating legal entity is Evolve Cyber Insurance Services LLC, trading as Evolve MGA.<ref name="policy-doc">{{cite web |title=Surplus-lines cyber policy document (specimen) |url=https://eglavator.com/wp-content/uploads/2024/07/502023CA013236XXXXMB_3.pdf |publisher=Eglavator |access-date=2026-03-09}}</ref><ref name="ri-filing">{{cite web |title=Evolve Cyber Insurance Services LLC — Annual report |url=https://business.sos.ri.gov/CORP_DRIVE1/2021/1016/000000000/4911/202103327020_1.pdf |publisher=Rhode Island Department of State |date=2021 |access-date=2026-03-09}}</ref> A Rhode Island Department of State annual report filed in 2021 lists California as the state of formation and San Rafael as the principal office address.<ref name="ri-filing"/> The company's website identifies San Diego as the headquarters location, while a 2023 acquisition announcement lists Dallas, Los Angeles, New York, and Texas as operating locations, indicating a multi-site U.S. footprint.<ref name="evolve-nexus">{{cite web |title=Evolve joins Nexus |url=https://evolvemga.com/evolve-joins-nexus/ |publisher=Evolve MGA |date=July 2023 |access-date=2026-03-09}}</ref><ref name="evolve-cyber">{{cite web |title=Cyber insurance |url=https://evolvemga.com/cyber-insurance-2/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref>

📅 '''Year founded.''' Evolve MGA has specialized in underwriting SME cyber insurance since 2015.<ref name="evolve-nexus"/> A 2019 trade profile corroborates a circa-2015 launch and states the firm had doubled its book annually in the years following (historical claim, not independently validated).<ref name="ibm-article">{{cite web |title=Evolve MGA — shedding some light on quality cyber insurance policies |url=https://www.insurancebusinessmag.com/us/news/cyber/evolve-mga--shedding-some-light-on-quality-cyber-insurance-policies-160103.aspx |publisher=Insurance Business Magazine |date=2019 |access-date=2026-03-09}}</ref>

🛡️ '''Business model and licensing.''' Evolve MGA positions itself as a cyber-focused MGA with full underwriting authority, offering cyber liability and technology E&O products.<ref name="evolve-home">{{cite web |title=Evolve MGA — homepage |url=https://evolvemga.com/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref> The company publishes a California insurance license number (0K40961) on its website.<ref name="evolve-cyber"/> A publicly filed 2021 surplus-lines policy document shows insurance effected through CFC Underwriting Limited as coverholder, with a binding authority structure tied to a Unique Market Reference, providing direct evidence of Lloyd's delegated authority distribution for at least part of the historical book.<ref name="policy-doc"/>

🏛️ '''Ownership and acquisition.''' Evolve MGA was acquired by Nexus Underwriting, with completion announced in July 2023.<ref name="evolve-nexus"/> At the time of announcement, Nexus was described as a wholly owned subsidiary of Kentro Capital Limited.<ref name="evolve-nexus"/> Brown & Brown, Inc. subsequently completed its acquisition of Kentro in October 2023, integrating Kentro into Brown & Brown Europe operations and placing Evolve MGA within a larger broker-controlled specialty platform.<ref name="bbrown-kentro">{{cite web |title=Brown & Brown, Inc. completes acquisition of Kentro Capital Limited |url=https://investor.bbrown.com/news-releases/news-release-details/brown-brown-inc-completes-acquisition-kentro-capital-limited |publisher=Brown & Brown, Inc. |date=10 October 2023 |access-date=2026-03-09}}</ref>

📊 '''Scale indicators.''' The acquisition announcement disclosed over 3,000 retail broking partners and approximately 6,000 policyholders, and stated that the acquisition introduced the Evolved NexGen cyber policy supported by Lloyd's of London across all 50 U.S. states.<ref name="evolve-nexus"/> The 2021 Rhode Island annual report lists Dan Carraher and Bryan Costello as managers of the entity.<ref name="ri-filing"/>

{{Section separator}}
== Leadership and governance ==

👥 '''Founders.''' Brothers Michael Costello and Patrick Costello co-founded Evolve MGA and are described as fourth-generation insurance professionals.<ref name="evolve-nexus"/> A 2020 agent-association profile states Patrick obtained a property and casualty license in college, interned at Lloyd's, trained at ACE Group, earned the CPCU designation, and worked as a professional liability underwriter before focusing on cyber; Michael worked as a retail producer and received multi-year cyber specialty training at Lloyd's.<ref name="piiac">{{cite web |title=Evolve highlight |url=https://piiac.com/evolve-highlight/ |publisher=Professional Insurance Agents of Connecticut |date=2020 |access-date=2026-03-09}}</ref>

🎙️ '''Underwriting philosophy.''' A 2019 trade interview quotes Patrick emphasizing wire transfer fraud and social engineering coverage while criticizing cyber policy "warranty statements" as a claims-denial risk; the same interview claims eight U.S. offices at the time and annual book doublings since 2015.<ref name="ibm-article"/> The acquisition announcement quotes Adam Kembrooke as CEO and President of Nexus Underwriting U.S. in connection with the transaction.<ref name="evolve-nexus"/>

⚠️ '''Leadership continuity.''' A 2025 public post from Patrick states it was his last day with the company, indicating at least one founder departure post-acquisition.<ref name="costello-linkedin">{{cite web |title=Patrick Costello — departure announcement |url=https://www.linkedin.com/posts/patcostelloevolve_today-is-my-last-day-with-evolve-it-has-activity-7367185628569985025-3GyS |publisher=LinkedIn |date=2025 |access-date=2026-03-09}}</ref>

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== Funding, ownership, and financial signals ==

🔗 '''Ownership pathway.''' Evolve MGA was acquired by Nexus Underwriting in July 2023; Nexus was then owned by Kentro Capital Limited, which was subsequently acquired by Brown & Brown, Inc. in October 2023.<ref name="evolve-nexus"/><ref name="bbrown-kentro"/> No venture rounds, valuations, or equity raises were identified in primary sources reviewed; the sole disclosed capital event is the acquisition, whose financial terms were not published.<ref name="evolve-nexus"/>

{| class="wikitable sortable" style="width:100%; font-size:0.85em"
|+ 💰 Evolve MGA — funding rounds, lead investors, and valuation, cumulative to July 2023
! scope="col" style="text-align:center" | Round
! scope="col" style="text-align:center" | Date
! scope="col" style="text-align:right; width:7em" | Amount raised
! scope="col" style="text-align:center" | Lead investor(s)
! scope="col" style="text-align:right; width:7em" | Post-money valuation
! scope="col" style="text-align:right; width:7em" | Cumulative funding
|-
| Acquired
| July 2023
| style="text-align:right" | —
| Nexus Underwriting
| style="text-align:right" | —
| style="text-align:right" | —
|}

🏆 '''Awards as commercial signal.''' Evolve has received multiple Advisen (Zywave) Cyber Risk Awards: "Cyber Newcomer of the Year" in 2019,<ref name="advisen-2019">{{cite web |title=Advisen announces 2019 Cyber Risk Award winners |url=https://www.advisenltd.com/advisen-announces-2019-cyber-risk-award-winners/ |publisher=Advisen |date=June 2019 |access-date=2026-03-09}}</ref> "Cyber Risk MGA" winner and Patrick as "Cyber Risk Industry Person of the Year — Americas" in 2021,<ref name="advisen-2021">{{cite web |title=Advisen announces 2021 Cyber Risk Award winners |url=https://www.advisenltd.com/advisen-announces-2021-cyber-risk-award-winners |publisher=Advisen |date=June 2021 |access-date=2026-03-09}}</ref> and "Cyber MGA of the Year" in 2022.<ref name="zywave-2022">{{cite web |title=Zywave & Advisen announce 2022 Cyber Risk Award winners |url=https://www.prnewswire.com/news-releases/zywave--advisen-announce-2022-cyber-risk-award-winners-301570365.html |publisher=PR Newswire / Zywave |date=June 2022 |access-date=2026-03-09}}</ref> The acquisition announcement describes Evolve as a three-time Cyber MGA of the Year winner.<ref name="evolve-nexus"/>

{| class="wikitable sortable" style="width:100%; font-size:0.85em"
|+ 📈 Evolve MGA — key performance indicators, most recent disclosed figures
! scope="col" style="text-align:center" | KPI
! scope="col" style="text-align:right; width:8em" | Most recent figure
! scope="col" style="text-align:right; width:7em" | Prior year
|-
| Gross Written Premium (GWP)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| GWP growth rate (YoY)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| Policy count (in force)
| style="text-align:right" | ~6,000 policyholders (July 2023)
| style="text-align:right" | —
|-
| Net loss ratio
| style="text-align:right" | —
| style="text-align:right" | —
|-
| Revenue
| style="text-align:right" | —
| style="text-align:right" | —
|-
| Net income / net loss
| style="text-align:right" | —
| style="text-align:right" | —
|-
| MGA commission rate (% of GWP)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| Headcount
| style="text-align:right" | ~30 cyber specialists (2020)
| style="text-align:right" | —
|-
| GWP per employee
| style="text-align:right" | —
| style="text-align:right" | —
|}

{{Section separator}}
== Product suite and coverage analysis ==

🎯 '''Customer segments.''' Evolve MGA markets to SMEs with cyber risk exposures up to $250 million, with some classes up to $500 million, spanning a broad industry appetite including banks, credit unions, hospitals, physician practices, municipalities, local government, private equity, venture capital, insurance intermediaries, and various professional services.<ref name="evolve-home"/><ref name="evolve-cyber"/> This breadth suggests a generalist SME and lower mid-market underwriting posture rather than a narrow vertical specialization.

📋 '''Policy form and structure.''' Post-acquisition, Evolve offers the Evolved NexGen cyber policy supported by Lloyd's across all 50 states.<ref name="evolve-nexus"/> A publicly filed 2021 policy specimen references wording version "EVO4.0" and provides a cyber incident response line associated with CFC.<ref name="policy-doc"/> The historical specimen includes an unlimited retroactive date and an optional 12-month extended reporting period at 100% of applicable annualized premium, both typical claims-made structural elements.<ref name="policy-doc"/>

🔒 '''First-party coverages.''' The EVO4.0 schedule includes cyber incident response sections for incident response costs, legal and regulatory costs, IT security and forensic costs, crisis communications, and privacy breach management costs, each at a $3,000,000 each-and-every-claim limit with varying deductibles, plus a $50,000 post-breach remediation sublimit.<ref name="policy-doc"/> The current product page lists 24/7 hotline support, breach costs, forensic costs, legal breach advice, and PR/crisis management as included features.<ref name="evolve-cyber"/>

💳 '''Cybercrime and social engineering.''' The current product page lists social engineering, invoice manipulation and impersonation fraud, electronic theft of third-party funds, theft of funds held in escrow, cyber extortion, and telephone hacking as covered perils.<ref name="evolve-cyber"/> The EVO4.0 specimen provides explicit sublimits including funds transfer fraud ($250,000), theft of funds held in escrow ($250,000), theft of personal funds ($250,000), extortion ($3,000,000), corporate identity theft ($250,000), telephone hacking ($250,000), push payment fraud ($50,000), and unauthorized use of computer resources ($250,000).<ref name="policy-doc"/>

🏗️ '''Business interruption and system failure.''' The current product page indicates business income loss with a stated six-hour waiting period, 12-month reputational loss coverage, supplemental extra expense, and "bricking" coverage.<ref name="evolve-cyber"/> The EVO4.0 schedule shows system damage and business interruption at $3,000,000 limits for system damage/rectification and income loss/extra expense, with a $1,000,000 sublimit for system failure; dependent business interruption at the same structure; reputational harm at $3,000,000; claim preparation costs at $25,000; and hardware replacement costs at $3,000,000.<ref name="policy-doc"/>

⚖️ '''Third-party coverages.''' Network security liability, privacy liability, regulatory penalties, and PCI liability are included per the current product page.<ref name="evolve-cyber"/> The EVO4.0 schedule shows these as aggregate-limit insuring clauses at $3,000,000 with a $5,000 deductible, alongside management liability, regulatory fines, and PCI fines/penalties/assessments.<ref name="policy-doc"/> Media liability and intellectual property rights infringement appear in the historical specimen within an aggregate-limit framework.<ref name="policy-doc"/>

💻 '''Technology E&O.''' The EVO4.0 specimen explicitly states "Technology Errors and Omissions: NO COVER GIVEN" within that policy form.<ref name="policy-doc"/> Evolve separately markets a standalone Technology E&O product covering IT consulting, MSPs, SaaS, software development, telecom services, and related technology operations.<ref name="evolve-techeo">{{cite web |title=Technology E&O |url=https://evolvemga.com/tech-eo/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref>

{{Section separator}}
== Breach response and cybersecurity services ==

🚨 '''Historical claims ecosystem.''' The 2021 EVO4.0 specimen designates CFC Underwriting Limited as cyber incident manager and lists an approved claims panel including Wilson Elser, Context Security, Kivu Consulting, CrowdStrike, DOSarrest, Mullen Coughlin, and Clyde & Co, signaling a structured managed-response model.<ref name="policy-doc"/>

📞 '''Current claims handling.''' The current product page states rapid response claims handling through McDonald Hopkins and provides a dedicated incident email for NexGen policyholders.<ref name="evolve-cyber"/><ref name="evolve-home"/>

🔍 '''Pre-bind services.''' Evolve provides risk vulnerability scans and reports and states that each policyholder receives a comprehensive risk assessment with their quote.<ref name="evolve-cyber"/>

📱 '''Policyholder tooling.''' An in-house mobile app offers 24/7 dark web monitoring, network deep scanning, phishing simulation campaigns, free forensic expert advice, and instant claims notification.<ref name="evolve-app">{{cite web |title=Evolve mobile app |url=https://evolvemga.com/evolve-mobile-app/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref> The cyber product page links to a Data Breach Calculator hosted on eRiskHub infrastructure, based on a proprietary formula developed by NetDiligence and its insurance industry partners.<ref name="evolve-cyber"/><ref name="evolve-home"/>

🤝 '''Vendor partnerships.''' The policyholder risk management page lists vendor relationships including Upfort (Upfort Shield trial and discount), Avail, BlackFog, ControlCase, eSentire, and Coro, forming a curated cybersecurity partner marketplace for policyholders.<ref name="evolve-risktools">{{cite web |title=Cybersecurity risk management tools for policyholders |url=https://evolvemga.com/cybersecurity-risk-management-tools-for-policyholders/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref>

{{Section separator}}
== Distribution and geographic expansion ==

🌐 '''Retail broker model.''' Evolve operates a direct-to-retail broker distribution architecture, with the acquisition announcement citing over 3,000 retail broking partners.<ref name="evolve-nexus"/> A 2020 association profile describes outreach through broker training, marketing materials, and in-person seminars, with a production team spending significant time in retail agencies.<ref name="piiac"/> The company's appointment page targets brokers directly, framing itself as "trusted by thousands of brokers across the country."<ref name="evolve-appointed">{{cite web |title=Get appointed |url=https://evolvemga.com/get-appointed/ |publisher=Evolve MGA |access-date=2026-03-09}}</ref>

🇺🇸 '''Geographic footprint.''' Evolve states nationwide U.S. availability across all 50 states for the post-acquisition NexGen policy supported by Lloyd's.<ref name="evolve-nexus"/> No evidence of non-U.S. underwriting operations under the Evolve MGA brand was found in reviewed sources.

📜 '''Licensing and authorization.''' The company publicly displays a California insurance license number and operates through national broker relationships.<ref name="evolve-cyber"/> The 2021 policy specimen is classified as surplus lines, with Patrick listed as surplus lines broker.<ref name="policy-doc"/> The policy certificate evidences a Lloyd's delegated authority pathway via CFC as coverholder.<ref name="policy-doc"/>

{{Section separator}}
== Carrier capacity and strategic partnerships ==

🏦 '''Current capacity.''' Post-acquisition, Evolve states the NexGen policy is supported by Lloyd's of London across all 50 U.S. states.<ref name="evolve-nexus"/>

📄 '''Historical panel.''' A 2021 surplus-lines tax filing page within the EVO4.0 specimen provides granular evidence of a co-insurance structure spanning Lloyd's syndicates (with percentage participations) and non-Lloyd's insurers including Zurich Insurance plc, HDI Global Specialty SE, XL Catlin Insurance Company UK Limited, and Fidelis Underwriting Limited.<ref name="policy-doc"/> CFC Underwriting Limited served as coverholder and cyber incident manager, a role typically paired with delegated underwriting authority and controlled claims response.<ref name="policy-doc"/>

🔗 '''AXA relationship.''' The 2021 specimen lists XL Catlin Insurance Company UK Limited as an insurer participant; AXA XL identifies AXA XL Insurance Company UK Limited as formerly XL Catlin Insurance Company UK Limited, following AXA's completion of the XL Group acquisition in 2018.<ref name="policy-doc"/><ref name="axaxl">{{cite web |title=Our companies |url=https://axaxl.com/insurance/our-companies |publisher=AXA XL |access-date=2026-03-09}}</ref> No evidence was found of AXA Venture Partners, Kamet, or AXA-entity distribution partnerships, nor of founder employment ties to AXA.<ref name="piiac"/>

🤝 '''Broker association partnerships.''' The Florida Association of Insurance Agents partnered with Evolve to provide coverage through the EVO 3.0 cyber policy to its members, listing specific coverage highlights as part of that arrangement.<ref name="faia">{{cite web |title=Cyber coverage |url=https://www.faia.com/cyber |publisher=Florida Association of Insurance Agents |access-date=2026-03-09}}</ref>

{{Section separator}}
== Competitive positioning ==

🧭 '''Category positioning.''' Evolve is classified as a U.S. cyber-focused MGA built around retail broker distribution at scale, packaged coverage emphasizing broad first-party protection and cybercrime/social engineering scenarios, and bundled cybersecurity partner resources with an incident-response workflow.<ref name="evolve-nexus"/>

💡 '''Claimed differentiators.''' Evolve's product comparison table highlights unlimited reinstatement on first-party coverage, breach response costs outside the limit, and full prior acts as distinguishing features.<ref name="evolve-cyber"/> The historical specimen corroborates these claims through its unlimited retroactive date, defined waiting period mechanics, and multiple cybercrime sublimits.<ref name="policy-doc"/> The partner ecosystem and mobile app reflect an insurtech-adjacent service layer.<ref name="evolve-app"/>

🏁 '''Peer benchmarking.''' Full-stack cyber platforms such as Coalition and At-Bay typically emphasize proprietary security telemetry and continuous control monitoring as underwriting differentiators — capabilities not demonstrated as proprietary by Evolve in public materials.<ref name="evolve-cyber"/><ref name="evolve-awards-2020">{{cite web |title=Evolve wins Advisen Cyber Awards 2020 |url=https://evolvemga.com/evolve-wins-advisen-cyber-awards-2020/ |publisher=Evolve MGA |date=2020 |access-date=2026-03-09}}</ref> Cowbell Cyber and Corvus Insurance are positioned around analytics-driven underwriting, whereas Evolve's strengths appear more anchored in broker education, claims ecosystem breadth, and coverage design.<ref name="evolve-awards-2020"/> Evolve's historical linkage to CFC as coverholder and incident manager implies structural proximity to CFC's operating model of delegated authority plus managed response.<ref name="policy-doc"/>

{{Section separator}}
== Risk factors ==

⚡ '''Capacity concentration.''' While the 2021 specimen evidences a diversified panel spanning Lloyd's and non-Lloyd's insurers, the current positioning emphasizes Lloyd's support; a shift in Lloyd's appetite, delegated authority performance management, or capacity retrenchment could create volatility in available limits, pricing, and underwriting guidelines.<ref name="evolve-nexus"/><ref name="policy-doc"/>

🔧 '''Claims and response dependency.''' The EVO4.0 specimen shows a structured response model centered on CFC, while the current NexGen process references McDonald Hopkins, creating operational dependency on third-party claims and vendor ecosystems across policy generations.<ref name="policy-doc"/><ref name="evolve-cyber"/>

🌊 '''Aggregation and systemic exposure.''' The portfolio is described as one of the larger SME cyber portfolios in the U.S., implying exposure to correlated events such as ransomware waves, supplier outages, and systemic vulnerabilities.<ref name="evolve-nexus"/>

👤 '''Key-person risk.''' Patrick Costello's public departure creates key-person continuity risk given the founder-led identity prominent in earlier materials and awards, raising questions about underwriting philosophy continuity and distribution retention.<ref name="costello-linkedin"/>

📝 '''Regulatory and compliance risk.''' Evolve publicly discloses a California insurance license number and operates across states including surplus lines placements; formal multi-state licensing confirmation and any administrative action history were not located in accessible regulator registers.<ref name="evolve-cyber"/>

{{Section separator}}
== Strategy and outlook ==

🧩 '''M&A-driven trajectory.''' The acquisition by Nexus and subsequent integration of Kentro into Brown & Brown indicates a platform strategy oriented toward consolidated specialty underwriting capabilities and distribution leverage across geographies and lines.<ref name="evolve-nexus"/><ref name="bbrown-kentro"/>

📢 '''Distribution scale.''' A core strategic pillar is building and defending retail broker distribution scale, anchored by the disclosed base of over 3,000 broking partners.<ref name="evolve-nexus"/>

🛡️ '''Product differentiation.''' Evolve seeks to maintain differentiation through broad cybercrime and first-party coverage features and claims response capabilities, complemented by curated cybersecurity services, policyholder tooling, and vendor partnerships.<ref name="evolve-cyber"/><ref name="evolve-risktools"/>

{{Section separator}}
== Company timeline ==

{| class="wikitable sortable" style="width:100%; font-size:0.85em"
|+ 🗓️ Evolve MGA — selected corporate milestones and events, 2015–2025
! scope="col" style="text-align:center" | Date
! scope="col" style="text-align:center" | Event
|-
| 2015
| Specialized SME cyber underwriting operations begin.<ref name="evolve-nexus"/>
|-
| June 2019
| Advisen Cyber Risk Awards name Evolve MGA "Cyber Newcomer of the Year."<ref name="advisen-2019"/>
|-
| June 2020
| Advisen Cyber Risk Awards recognize Evolve as "Cyber MGA of the Year" and name the founders as Cyber Person of the Year (USA).<ref name="evolve-awards-2020"/>
|-
| June 2021
| Advisen awards Evolve "Cyber Risk MGA" winner; Patrick named Industry Person of the Year (Americas).<ref name="advisen-2021"/>
|-
| June 2022
| Zywave/Advisen announce Evolve MGA as "Cyber MGA of the Year" winner.<ref name="zywave-2022"/>
|-
| July 2023
| Nexus Underwriting completes acquisition of Evolve; Evolved NexGen policy launched across all 50 U.S. states; scale disclosed at 3,000+ broking partners and approximately 6,000 policyholders.<ref name="evolve-nexus"/>
|-
| October 2023
| Brown & Brown completes acquisition of Kentro Capital Limited, integrating Kentro into Brown & Brown Europe operations.<ref name="bbrown-kentro"/>
|-
| Late 2025
| Patrick Costello publicly announces departure from the company.<ref name="costello-linkedin"/>
|}

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== See also ==
* [[Cyber insurtech MGAs and underwriting agencies]]

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== References ==
{{reflist}}

Evolve MGA - Revision history

Wikilah admin at 05:23, 9 March 2026

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	== Corporate and regulatory profile ==		== Corporate and regulatory profile ==