Significant Transactions (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Recognized Identified Assets Acquired

The following presents additional details of the assets acquired and liabilities assumed as of the January 1, 2021 acquisition date:


Millions	As of January 1, 2021
Investments	$	594.3
Cash	52.0		(1)
Reinsurance recoverables	433.4
Insurance premiums receivable	236.7
Ceded unearned premiums	170.2
Value of in-force business acquired	71.7
Other assets	88.9
Loss and loss adjustment expense reserves	(696.0)
Unearned insurance premiums	(326.1)
Debt	(46.4)

Ceded reinsurance payable	(528.3)
Other liabilities	(25.9)
Net tangible assets acquired	24.5
Goodwill	116.8
Other intangible assets - syndicate underwriting capacity	175.7
Deferred tax liability on other intangible assets	(33.4)
Net assets acquired	$	283.6

(1) Cash excludes the White Mountains cash contribution of $605.4 as part of the Ark Transaction.

The following table presents the economic lives, acquisition date fair values, accumulated amortization and net carrying values for other intangible assets and goodwill, by company as of December 31, 2022 and 2021:


$ in Millions	Weighted Average Economic Life (in years)	December 31, 2022							December 31, 2021
		Acquisition Date Fair Value		Accumulated Amortization					Net Carrying Value		Acquisition Date Fair Value		Accumulated Amortization					Net Carrying Value
Goodwill:
Ark	N/A	$	116.8	$	—				$	116.8	$	116.8	$	—				$	116.8
Kudu	N/A	7.6		—					7.6		7.6		—					7.6


Other Operations	N/A	52.1		—					52.1		17.9		—					17.9
Total goodwill		176.5		—					176.5		142.3		—					142.3
Other intangible assets:
Ark
Underwriting capacity	N/A	175.7		—					175.7		175.7		—					175.7
Kudu
Trade names	7	2.2		1.2					1.0		2.2		.9					1.3





Other Operations
Trade names	15.9	17.9		3.0					14.9		8.2		1.5					6.7
Customer relationships	12.4	29.5		7.5					22.0		18.8		4.5					14.3

Other	12.1	2.8		.5					2.3		.3		.1					.2
Subtotal		50.2		11.0					39.2		27.3		6.1					21.2
Total other intangible assets		228.1		12.2					215.9		205.2		7.0					198.2
Total goodwill and other intangible assets		$	404.6	$	12.2				392.4		$	347.5	7.0					340.5
Goodwill and other intangible assets attributed to non-controlling interests						(102.7)									(91.8)
Goodwill and other intangible assets included in White Mountains’s common shareholders’ equity							$	289.7								$	248.7