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Equity Method Investments
6 Months Ended
Jun. 30, 2023
Equity Method Investments [Abstract]  
Equity Method Investments Disclosure [Text Block] Equity Method Investments The Company holds certain investments that are accounted for under the equity method of accounting. The Company's equity method investments, which are included in other assets on the consolidated balance sheets, totaled $489.7 million and $494.0 million as of June 30, 2023 and December 31, 2022, respectively. The Company's proportionate share of earnings in its equity method investments were losses of $7.1 million and $8.7 million for the quarter and six months ended June 30, 2023, respectively, and losses of $4.2 million and $27.4 million for the quarter and six months ended June 30, 2022, respectively.
The Company's most significant equity method investment is an investment in Hagerty, Inc. (Hagerty), which is accounted for on a quarter lag. Hagerty is an automotive enthusiast brand offering integrated membership products and programs as well as a specialty insurance provider focused on the global automobile enthusiast market. The Company's ownership interest in Hagerty's common stock was 23% as of June 30, 2023 and December 31, 2022. The Company's investment is comprised of Class A common shares, which are listed for trading on the New York Stock Exchange, as well as Class V common shares, associated with the Company's original investment, that have special voting rights and can be converted on a one-for-one basis into Class A common shares. The Company accounts for its investment under the equity method as it is deemed to have the ability to exercise significant influence over Hagerty's operating and financial policies through a combination of its voting interest, its right to designate a board member and business it conducts with Hagerty. As of June 30, 2023 and December 31, 2022, the carrying value of the Company's investment in Hagerty was $232.1 million and $245.1 million, respectively.

As of June 30, 2023 and December 31, 2022, the estimated value of the Company's investment, based on the closing stock price of Hagerty's Class A common shares, was $730.1 million and $656.0 million, respectively. See note 12 for further details regarding related party transactions with Hagerty.