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Intangible Assets, Net and Goodwill (Tables) | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | Intangible assets consist of the following:
|  | December 31, 2025 |  | December 31, 2024
(in thousands) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Acquired relationships |  | $ | 1,253,396 |  |  | $ | (344,992) |  |  | $ | 908,404 |  |  | $ | 1,136,326 |  |  | $ | (259,125) |  |  | $ | 877,201 |
Software |  | 163,514 |  |  | (95,547) |  |  | 67,967 |  |  | 138,119 |  |  | (65,190) |  |  | 72,929 |
Trade names |  | 28,474 |  |  | (26,411) |  |  | 2,063 |  |  | 27,924 |  |  | (24,562) |  |  | 3,362 |
Total intangible assets |  | $ | 1,445,384 |  |  | $ | (466,950) |  |  | $ | 978,434 |  |  | $ | 1,302,369 |  |  | $ | (348,877) |  |  | $ | 953,492 |
Schedule of Future Amortization Expense for Intangible Assets | Future annual estimated amortization expense over the next five years for intangible assets is as follows (in thousands):
For the Years Ending December 31, |  | Amortization
2026 |  | $ | 126,061 |
2027 |  | 108,232 |
2028 |  | 90,334 |
2029 |  | 79,422 |
2030 |  | 72,271 |
Schedule of Goodwill | The changes in carrying value of goodwill by operating group are as follows:
(in thousands) |  | Insurance Advisory Solutions |  | Underwriting, Capacity & Technology Solutions |  | Mainstreet Insurance Solutions |  | Total
Balance at December 31, 2023 and 2024 |  | $ | 932,487 |  |  | $ | 235,589 |  |  | $ | 244,293 |  |  | $ | 1,412,369 |
Goodwill of acquired businesses |  | — |  |  | 6,316 |  |  | 98,486 |  |  | 104,802 |
Balance at December 31, 2025 |  | $ | 932,487 |  |  | $ | 241,905 |  |  | $ | 342,779 |  |  | $ | 1,517,171 |

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