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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Analysis of goodwill and intangible assets | 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, 2020 | $ | 314,629 |  |  | $ | 79,219 |  |  | $ | 299,015 |  |  | $ | 692,863 |
Acquisitions (1) | 31,677 |  |  | — |  |  | 318,459 |  |  | 350,136 |
Amortization | — |  |  | — |  |  | (82,955) |  |  | (82,955) |
Impact of deconsolidation of Somers (2) | — |  |  | (7,650) |  |  | — |  |  | (7,650) |
Foreign currency movements and other adjustments | (1,441) |  |  | (212) |  |  | (5,758) |  |  | (7,411) |
Net balance at Dec. 31, 2021 | 344,865 |  |  | 71,357 |  |  | 528,761 |  |  | 944,983 |
Acquisitions (1) | 8,389 |  |  | — |  |  | — |  |  | 8,389 |
Amortization | — |  |  | — |  |  | (106,200) |  |  | (106,200) |
Foreign currency movements and other adjustments | (11,181) |  |  | (2,576) |  |  | (29,126) |  |  | (42,883) |
Net balance at Dec. 31, 2022 | $ | 342,073 |  |  | $ | 68,781 |  |  | $ | 393,435 |  |  | $ | 804,289 |
Gross balance at Dec. 31, 2022 | $ | 351,231 |  |  | $ | 70,246 |  |  | $ | 1,102,298 |  |  | $ | 1,523,775 |
Accumulated amortization | — |  |  | — |  |  | (678,020) |  |  | (678,020) |
Foreign currency movements and other adjustments | (9,158) |  |  | (1,465) |  |  | (30,843) |  |  | (41,466) |
Net balance at Dec. 31, 2022 | $ | 342,073 |  |  | $ | 68,781 |  |  | $ | 393,435 |  |  | $ | 804,289 |
(1) See note 2, “Acquisitions.” (2) See note 12, “Variable Interest Entity and Noncontrolling Interests.”
Summary of components of intangible assets | 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, 2022 |  |  |  |  |  |  |
Acquired insurance contracts | $ | 451,505 |  |  | $ | (426,202) |  |  | $ | 339 |  |  | $ | 25,642 |
Operating platform | 52,674 |  |  | (50,302) |  |  | 2 |  |  | 2,374 |
Distribution relationships | 602,518 |  |  | (207,908) |  |  | (31,110) |  |  | 363,500 |
Goodwill | 351,231 |  |  | — |  |  | (9,158) |  |  | 342,073 |
Insurance licenses | 48,331 |  |  | — |  |  | — |  |  | 48,331 |
Syndicate capacity | 21,915 |  |  | — |  |  | (1,465) |  |  | 20,450 |
Unfavorable service contract | (9,533) |  |  | 9,533 |  |  | — |  |  | — |
Other | 5,134 |  |  | (3,141) |  |  | (74) |  |  | 1,919 |
Total | $ | 1,523,775 |  |  | $ | (678,020) |  |  | $ | (41,466) |  |  | $ | 804,289 |
Dec. 31, 2021 |  |  |  |  |  |  |
Acquired insurance contracts | $ | 451,505 |  |  | $ | (409,592) |  |  | $ | 339 |  |  | $ | 42,252 |
Operating platform | 52,674 |  |  | (48,838) |  |  | 56 |  |  | 3,892 |
Distribution relationships | 602,518 |  |  | (120,302) |  |  | (2,207) |  |  | 480,009 |
Goodwill | 342,842 |  |  | — |  |  | 2,023 |  |  | 344,865 |
Insurance licenses | 48,331 |  |  | — |  |  | — |  |  | 48,331 |
Syndicate capacity | 21,915 |  |  | — |  |  | 1,111 |  |  | 23,026 |
Unfavorable service contract | (9,533) |  |  | 9,435 |  |  | — |  |  | (98) |
Other | 5,134 |  |  | (2,542) |  |  | 114 |  |  | 2,706 |
Total | $ | 1,515,386 |  |  | $ | (571,839) |  |  | $ | 1,436 |  |  | $ | 944,983 |
Estimated future amortization expense | The estimated remaining amortization expense for the Company’s intangible assets with finite lives is as follows:
2023 | $ | 91,605 |
2024 | 73,366 |
2025 | 41,060 |
2026 | 32,091 |
2027 | 29,268 |
2028 and thereafter | 126,045 |
Total | $ | 393,435 |

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