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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets ) GOODWILL AND INTANGIBLE ASSETS
Goodwill

The carrying amount of goodwill at March 31, 2025 and December 31, 2024 was $59,476,000.

There was no goodwill acquired, disposed of or impaired during the three month periods ended March 31, 2025 and 2024.

Intangible Assets

The following is a summary of intangible assets excluding goodwill recorded as intangible assets on the Company's Unaudited Condensed Consolidated Balance Sheets:
March 31, 2025December 31, 2024
Intangible assets subject to amortization$4,876 $5,485 
Indefinite-lived intangible assets(1)
423 423 
Total$5,299 $5,908 
(1) Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses.


Intangible assets subject to amortization and not fully amortized consisted of the following:
Weighted-average remaining amortization period (in years)Gross carrying amountAccumulated amortizationNet carrying amount
March 31, 2025
Agency agreements acquired2.034,661 (29,785)4,876 
December 31, 2024
Agency agreements acquired2.334,661 (29,176)5,485 

No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three months ended March 31, 2025 and 2024.

Amortization expense of the Company's intangible assets was $609,000 and $812,000 for the three months ended March 31, 2025 and 2024, respectively. Estimated amortization expense of the Company's intangible assets to be recognized by the Company during the remainder of 2025 and over the next five years is as follows:
Year ending December 31,Estimated Amortization Expense
Remaining in 2025
$1,829 
20262,438 
2027609 
2028— 
2029— 
2030—