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v3.25.1

Goodwill and Other Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of intangible assets and goodwill | The following table presents the economic life, acquisition date fair value, accumulated amortization and net carrying value for other intangible assets and goodwill as of March 31, 2025 and December 31, 2024:
$ in Millions |  | Weighted Average Economic Life (in years) |  | March 31, 2025 |  | December 31, 2024
| 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 |
Bamboo |  | N/A |  | 270.4 |  |  | — |  |  | 270.4 |  |  | 270.4 |  |  | — |  |  |  |  | 270.4 |
Other Operations |  | N/A |  | 44.4 |  |  | — |  |  | 44.4 |  |  | 44.4 |  |  | — |  |  |  |  | 44.4 |
Total goodwill |  | 439.2 |  |  | — |  |  | 439.2 |  |  | 439.2 |  |  | — |  |  |  |  | 439.2 |
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ark |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Underwriting capacity | N/A |  | 175.7 |  |  | — |  |  | 175.7 |  |  | 175.7 |  |  | — |  |  |  |  | 175.7 |
Kudu |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 7.0 |  | 2.2 |  |  | 1.9 |  |  | .3 |  |  | 2.2 |  |  | 1.8 |  |  |  |  | .4 |
Bamboo |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 10.0 |  | 23.5 |  |  | 2.9 |  |  | 20.6 |  |  | 23.5 |  |  | 2.3 |  |  |  |  | 21.2 |
Agency relationships |  | 6.0 |  | 72.4 |  |  | 15.1 |  |  | 57.3 |  |  | 72.4 |  |  | 12.1 |  |  |  |  | 60.3 |
Developed technology |  | 3.0 |  | 4.7 |  |  | 2.0 |  |  | 2.7 |  |  | 4.7 |  |  | 1.6 |  |  |  |  | 3.1 |
Other |  | 0.3 |  | .4 |  |  | .4 |  |  | — |  |  | .4 |  |  | .4 |  |  |  |  | — |
Subtotal |  |  |  | 101.0 |  | 20.4 |  | 80.6 |  | 101.0 |  |  | 16.4 |  |  |  |  | 84.6 |
Other Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 13.3 |  | 13.3 |  |  | 6.0 |  |  | 7.3 |  |  | 13.3 |  |  | 5.6 |  |  |  |  | 7.7 |
Customer relationships |  | 11.0 |  | 24.8 |  |  | 14.3 |  |  | 10.5 |  |  | 24.8 |  |  | 13.6 |  |  |  |  | 11.2 |
Other |  | 11.8 |  | 3.1 |  |  | 1.6 |  |  | 1.5 |  |  | 3.1 |  |  | 1.6 |  |  |  |  | 1.5 |
Subtotal |  |  |  | 41.2 |  |  | 21.9 |  |  | 19.3 |  |  | 41.2 |  |  | 20.8 |  |  |  |  | 20.4 |
Total other intangible assets | 320.1 |  |  | 44.2 |  |  | 275.9 |  |  | 320.1 |  |  | 39.0 |  |  |  |  | 281.1 |
Total goodwill and other intangible assets | $ | 759.3 |  |  | $ | 44.2 |  |  | $ | 715.1 |  |  | $ | 759.3 |  |  | $ | 39.0 |  |  |  |  | $ | 720.3 |
The following table presents the change in goodwill and other intangible assets for the three months ended March 31, 2025 and 2024:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Millions |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets
Beginning balance |  | $ | 439.2 |  |  | $ | 281.1 |  |  | $ | 720.3 |  |  | $ | 168.8 |  |  | $ | 201.8 |  |  | $ | 370.6 |
Acquisitions of businesses (1) |  | — |  |  | — |  |  | — |  |  | 270.4 |  |  | 101.0 |  |  | 371.4 |
Acquisitions of intangible assets (2) |  | — |  |  | — |  |  | — |  |  | — |  |  | .3 |  |  | .3 |
Amortization |  | — |  |  | (5.2) |  |  | (5.2) |  |  | — |  |  | (5.7) |  |  | (5.7) |
Ending balance |  | $ | 439.2 |  |  | $ | 275.9 |  |  | $ | 715.1 |  |  | $ | 439.2 |  |  | $ | 297.4 |  |  | $ | 736.6 |
(1) Relates to the Bamboo Transaction. See Note 2 — “Significant Transactions.” (2) Relates to acquisitions within Other Operations.

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- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + 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 + Details
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