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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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 December 31, 2023			$	345					$	70					$	316					$	731
Acquisitions (1)			246						9						637						892
Amortization			—						—						(235)						(235)
Foreign currency movements and other adjustments (2)			(20)						—						(17)						(37)
Net balance at December 31, 2024			571						79						701						1,351
Acquisitions (1)			30						—						2						32
Amortization			—						—						(193)						(193)
Foreign currency movements and other adjustments			6						2						24						32
Net balance at December 31, 2025			$	607					$	81					$	534					$	1,222
Gross balance at December 31, 2025			$	606					$	80					$	1,726					$	2,412
Accumulated amortization			—						—						(1,171)						(1,171)
Foreign currency movements and other adjustments			1						1						(21)						(19)
Net balance at December 31, 2025			$	607					$	81					$	534					$	1,222

(1) See note 2.

(2) Amount primarily related to the sale of Castel Underwriting Agencies

Limited.

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

			Gross Balance						Accumulated Amortization						Foreign Currency Translation Adjustment and Other						Net Balance
December 31, 2025
Acquired insurance contracts			$	620					$	(619)					$	—					$	1
Operating platform			117						(78)						—						39
Distribution relationships			865						(427)						(21)						417
Goodwill			606						—						1						607
Insurance licenses			58						—						—						58
Syndicate capacity			22						—						1						23
Unfavorable service contract			(10)						10						—						—
Other			134						(57)						—						77
Total			$	2,412					$	(1,171)					$	(19)					$	1,222
December 31, 2024
Acquired insurance contracts			$	620					$	(562)					$	1					$	59
Operating platform			117						(63)						—						54
Distribution relationships			865						(358)						(30)						477
Goodwill			576						—						(5)						571
Insurance licenses			58						—						—						58
Syndicate capacity			22						—						(1)						21
Unfavorable service contract			(10)						10						—						—
Other			132						(21)						—						111
Total			$	2,380					$	(994)					$	(35)					$	1,351

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

2026			$	119
2027			93
2028			78
2029			65
2030			51
2031 and thereafter			128
Total			$	534

The estimated remaining useful lives of these assets range from one to eleven years at December 31, 2025.

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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