Related Party Transactions (Notes) |
6 Months Ended |
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Jun. 30, 2022 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Notes Payable In September 2021, the Company accelerated recognition of MSI’s maximum contingent earnout and entered into notes payable agreements with each of MSI’s shareholders for a combined principal amount of $61.5 million. The related party notes were subsequently paid in full in April 2022. Commission Revenue The Company serves as a broker for Holding Company of the Villages, Inc. (“The Villages”), a significant shareholder, and certain affiliated entities. Commission revenue recorded as a result of transactions with The Villages was $0.6 million and $0.7 million for the three months ended June 30, 2022 and 2021, respectively, and $1.7 million and $1.3 million for the six months ended June 30, 2022 and 2021, respectively. The Company serves as a broker for certain entities in which a member of our board of directors has a material interest. Commission revenue recorded as a result of these transactions was $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively. Commissions Expense A brother of Lowry Baldwin, our Board Chair, earned Risk Advisor commissions from the Company of $0.1 million during each of the three months ended June 30, 2022 and 2021 and $0.2 million during each of the six months ended June 30, 2022 and 2021. Rent Expense The Company has various agreements to lease office space from wholly-owned subsidiaries of The Villages. Total rent expense incurred with respect to The Villages and its wholly-owned subsidiaries was $0.1 million for each of the three months ended June 30, 2022 and 2021 and $0.2 million and $0.3 million for the six months ended June 30, 2022 and 2021, respectively. The Company has various agreements to lease office space from other related party entities. Total rent expense incurred with respect to other related parties was $0.9 million and $0.5 million for the three months ended June 30, 2022 and 2021, respectively, and $1.9 million and $1.0 million for the six months ended June 30, 2022 and 2021, respectively. Total right-of-use assets and operating lease liabilities included on the Company’s balance sheet related to these agreements were $16.1 million and $16.4 million, respectively, at June 30, 2022 and $17.9 million and $18.2 million, respectively, at December 31, 2021.
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