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Intangible Assets

12 Months Ended

Dec. 31, 2022

Intangible Assets

Intangible Assets

6. Intangible Assets

Intangible assets consist of the following:

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​	​	​	​	​	​	​
​	​	December 31,
​	​	2022			2021
​	​	(in thousands)
Indefinite-lived intangibles:	​	​	​	​	​	​
State insurance licenses	​	$	744	​	$	744
Finite-lived intangibles:	​	​	​	​	​	​
Customer relationships	​	​	10,023	​	​	10,008
Accumulated amortization on finite-lived intangibles	​	​	(2,506)	​	​	(1,251)
Total intangible assets	​	$	8,261	​	$	9,501

​

​

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State insurance licenses consist of licenses acquired at the inception of PSIC.

​

Customer relationships represents the fair value of acquired policy renewal rights. The Company began amortizing this intangible asset on a straight line basis in 2021 and is amortizing it over a period of 8 years. Amortization expense for the years ended December 31, 2022 and 2021 was $1.3 million during each year.

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=2144471

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