Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table shows an analysis of goodwill and intangible assets:


	Goodwill		Intangible assets (indefinite life)		Intangible assets (finite life)		Total
Net balance at Dec. 31, 2018	$	249,620	$	61,874	$	323,426	$	634,920
Acquisitions	74,780		24,431		82,482		181,693
Amortization	—		—		(82,104)		(82,104)
Impairment (1)	—		(1,000)		—		(1,000)
Foreign currency movements and other adjustments	2,151		606		1,817		4,574
Net balance at Dec. 31, 2019	326,551		85,911		325,621		738,083
Acquisitions (2)	—		—		39,178		39,178
Amortization	—		—		(69,031)		(69,031)
Impairment	—		—		—		—
Foreign currency movements and other adjustments	(11,922)		(6,692)		3,247		(15,367)
Net balance at Dec. 31, 2020	$	314,629	$	79,219	$	299,015	$	692,863

Gross balance at Dec. 31, 2020	$	318,043	$	77,896	$	784,921	$	1,180,860
Accumulated amortization	—		—		(489,828)		(489,828)
Foreign currency movements and other adjustments	(3,414)		1,323		3,922		1,831
Net balance at Dec. 31, 2020	$	314,629	$	79,219	$	299,015	$	692,863

(1) The impairment to the indefinite-lived intangible assets during the year ended December 31, 2019 of $1.0 million related to insurance licenses from the acquisition of UGC.

(2) Certain amounts for the Company’s 2020 acquisitions are considered provisional.

The following table presents the components of goodwill and intangible assets:


	Gross Balance		Accumulated Amortization		Foreign Currency Translation Adjustment and Other		Net Balance
Dec. 31, 2020
Acquired insurance contracts	$	451,505	$	(381,349)	$	284	$	70,440
Operating platform	52,674		(44,347)		60		8,387
Distribution relationships	285,141		(71,383)		3,450		217,208
Goodwill	318,043		—		(3,414)		314,629
Insurance licenses	55,981		—		—		55,981
Syndicate capacity	21,915		—		1,324		23,239
Unfavorable service contract	(9,533)		9,147		—		(386)
Other	5,134		(1,896)		127		3,365
Total	$	1,180,860	$	(489,828)	$	1,831	$	692,863

Dec. 31, 2019
Acquired insurance contracts	$	452,470	$	(336,559)	$	310	$	116,221
Operating platform	52,674		(39,571)		(259)		12,844
Distribution relationships	243,838		(50,542)		212		193,508
Goodwill	331,448		—		(4,897)		326,551
Insurance licenses	63,390		—		—		63,390
Syndicate capacity	21,915		—		605		22,520
Unfavorable service contract	(9,533)		8,657		—		(876)
Other	5,134		(1,279)		70		3,925
Total	$	1,161,336	$	(419,294)	$	(3,959)	$	738,083

The estimated remaining amortization expense for the Company’s intangible assets with finite lives is as follows:


2021	$	56,269
2022	42,211
2023	40,014
2024	34,985
2025	19,919
2026 and thereafter	105,617
Total	$	299,015

The estimated remaining useful lives of these assets range from one to sixteen years at December 31, 2020.

Other than the impairments described above, the Company’s annual impairment reviews for goodwill and intangible assets

did not result in the recognition of impairment losses for 2020 and 2019