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Goodwill And Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Rollforward of Components Of Goodwill | The following table presents a rollforward of the components of goodwill by reportable segment.
(dollars in thousands) | Insurance |  | Reinsurance |  | Markel Ventures |  | Other insurance operations(1) |  | Total
January 1, 2023 | $ | 771,628 |  |  | $ | 122,745 |  |  | $ | 1,153,909 |  |  | $ | 590,556 |  |  | $ | 2,638,838 |
Adjustments to preliminary purchase price allocation | — |  |  | — |  |  | (16,752) |  |  | — |  |  | (16,752) |
Foreign currency movements and other adjustments | 1,195 |  |  | — |  |  | 497 |  |  | 971 |  |  | 2,663 |
December 31, 2023 (2) | $ | 772,823 |  |  | $ | 122,745 |  |  | $ | 1,137,654 |  |  | $ | 591,527 |  |  | $ | 2,624,749 |
Acquisitions (note 3) | — |  |  | — |  |  | 114,589 |  |  | — |  |  | 114,589 |
Foreign currency movements and other adjustments | (3,247) |  |  | — |  |  | (434) |  |  | 210 |  |  | (3,471) |
December 31, 2024 (2) | $ | 769,576 |  |  | $ | 122,745 |  |  | $ | 1,251,809 |  |  | $ | 591,737 |  |  | $ | 2,735,867 |
(1) Amounts included in other insurance operations reflect the Company's operations that are not included in a reportable segment and are primarily related to the Company's program services and insurance-linked securities operations. (2) As of December 31, 2024 and 2023, goodwill was net of accumulated impairment losses of $190.6 million, of which $171.9 million was in other insurance operations and $18.7 million was in Markel Ventures.
Rollforward of Components of Net Intangible Assets | The following table presents a rollforward of net intangible assets by reportable segment.
(dollars in thousands) | Underwriting (1) |  | Markel Ventures |  | Other insurance operations (2) |  | Total
January 1, 2023 | $ | 362,322 |  |  | $ | 796,297 |  |  | $ | 588,845 |  |  | $ | 1,747,464 |
Dispositions | — |  |  | — |  |  | (2,000) |  |  | (2,000) |
Amortization of acquired intangible assets | (37,076) |  |  | (82,370) |  |  | (61,168) |  |  | (180,614) |
Adjustments to preliminary purchase price allocation | — |  |  | 22,671 |  |  | — |  |  | 22,671 |
Foreign currency movements and other adjustments | 98 |  |  | 119 |  |  | 946 |  |  | 1,163 |
December 31, 2023 | $ | 325,344 |  |  | $ | 736,717 |  |  | $ | 526,623 |  |  | $ | 1,588,684 |
Acquisitions (note 3) | — |  |  | 52,909 |  |  | — |  |  | 52,909 |
Amortization of acquired intangible assets | (37,276) |  |  | (81,317) |  |  | (62,879) |  |  | (181,472) |
Foreign currency movements and other adjustments | (117) |  |  | 154 |  |  | (538) |  |  | (501) |
December 31, 2024 | $ | 287,951 |  |  | $ | 708,463 |  |  | $ | 463,206 |  |  | $ | 1,459,620 |
(1) Amounts included in Underwriting reflect the intangible assets associated with the Company's underwriting segments, which are not allocated between the Insurance and Reinsurance segments. (2) Amounts included in other insurance operations reflect the Company's operations that are not included in a reportable segment and are primarily related to the Company's program services and insurance-linked securities operations.
Components of Intangible Assets | The following table presents the components of intangible assets.
| December 31,
| 2024 |  | 2023
(dollars in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Customer relationships | $ | 1,488,796 |  |  | $ | (699,550) |  |  | $ | 1,450,503 |  |  | $ | (600,724) |
Investment management agreements | 464,000 |  |  | (178,727) |  |  | 464,000 |  |  | (149,560) |
Broker and agent relationships | 295,694 |  |  | (182,139) |  |  | 297,693 |  |  | (168,586) |
Trade names | 305,381 |  |  | (157,494) |  |  | 293,270 |  |  | (138,040) |
Technology | 113,187 |  |  | (107,727) |  |  | 113,248 |  |  | (100,781) |
Insurance licenses | 72,333 |  |  | — |  |  | 72,333 |  |  | — |
Other | 159,603 |  |  | (113,737) |  |  | 169,681 |  |  | (114,353) |
Total | $ | 2,898,994 |  |  | $ | (1,439,374) |  |  | $ | 2,860,728 |  |  | $ | (1,272,044) |

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