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Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination [Abstract]  
Schedule of Business Acquisitions
The table below provides a summary of the total consideration and the estimated purchase price allocations made for the MultiStrat partnership.
(in thousands)MultiStrat
Cash consideration paid$12,054 
Fair value of contingent earnout consideration8,766 
Fair value of equity interest863 
Deferred payment2,901 
Total consideration$24,584 
Cash$355 
Assumed premiums, commissions and fees receivable12,190 
Other assets1,687 
Intangible assets4,460 
Goodwill8,214 
Total assets acquired26,906 
Accrued expenses and other current liabilities(2,322)
Total liabilities acquired(2,322)
Net assets acquired$24,584 
Maximum potential contingent earnout consideration$16,500 
Schedule of Weighted-Average Useful Lives of Intangible Assets Acquired in Business Combinations
The intangible assets acquired in connection with the MultiStrat partnership have the following values and estimated weighted-average lives:
(in thousands, except weighted-average lives)AmountWeighted-Average Life
Acquired relationships$3,527 10 years
Trade names196 3 years
Software(1)
737 
__________
(1)    Software acquired in the MultiStrat partnership consists of internally-developed software, which will not be placed in service and amortized until it reaches technological feasibility.
Schedule of Future Amortization Expense for Intangible Assets Acquired in Business Combinations
Future annual estimated amortization expense for the next five years is as follows for intangible assets acquired in connection with the MultiStrat partnership:
(in thousands)Amount
For the remainder of 2025$209 
2026418 
2027418 
2028369 
2029353 
2030353