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Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

There were no changes in the carrying amount of goodwill during the three and six months ended June 30, 2024 and 2023. No accumulated goodwill impairment losses existed at June 30, 2024 and December 31, 2023. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three and six months ended June 30, 2024 and 2023. All of the Company's goodwill is associated with the Property

and Casualty business segment (See Note 13. Segment Information for additional information on the reportable business segment).

Other Intangible Assets

The following table presents the components of other intangible assets:

			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Useful Lives
			(Amounts in thousands)																		(in years)
As of June 30, 2024:
Customer relationships			$	55,107					$	(53,832)					$	1,275					10
Trade names			15,400						(9,946)						5,454						24
Technology			4,300						(4,300)						—						10
Insurance license			1,400						—						1,400						Indefinite
Total other intangible assets, net			$	76,207					$	(68,078)					$	8,129
As of December 31, 2023:
Customer relationships			$	54,862					$	(53,704)					$	1,158					11
Trade names			15,400						(9,625)						5,775						24
Technology			4,300						(4,300)						—						10
Insurance license			1,400						—						1,400						Indefinite
Total other intangible assets, net			$	75,962					$	(67,629)					$	8,333

Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during the three and six months ended June 30, 2024 and 2023.

Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Amortization expense for other intangible assets was $0.2 million for each of the three-month periods ended June 30, 2024 and 2023, and $0.4 million for each of the six-month periods ended June 30, 2024 and 2023.

The following table presents the estimated future amortization expense related to other intangible assets as of June 30, 2024:

Year						Amortization Expense
						(Amounts in thousands)
Remainder of 2024						$	447
2025						856
2026						856
2027						856
2028						856
Thereafter						2,858
Total						$	6,729

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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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