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Revenue from Contract with Customer
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer
13.    REVENUES FROM CONTRACTS WITH CUSTOMERS
As further described in the Revenue Recognition section of Note 2. Basis of Presentation and Significant Accounting Policies, the Insurance Distribution businesses have contracts that are subject to the Revenue from Contracts with Customers Topic of the ASC ("ASC 606").
The following table presents Insurance Distribution commission income recognized disaggregated by policy type for the years ended December 31, 2024, 2023 and 2022:
Year ended December 31,202420232022
Accident & Health$30,123 $32,836 $28,399 
Specialty Auto17,851 11,929 1,871 
Other Professional10,076 3,097 — 
Marine & Energy2,829 2,909 158 
Niche Specialty Risks5,268 — — 
Property5,116 — — 
Reinsurance1,641 147 — 
Professional D&O1,422 — — 
Misc. Specialty17,697 363 267 
Total$92,023 $51,281 $30,695 
For the years ended December 31, 2024, 2023 and 2022, income of $6,320, $200 and $715, respectively, was recognized in accordance with ASC 606 and reported in other revenue on the Consolidated Statement of Comprehensive Income.
During the years ended December 31, 2024, 2023 and 2022, the amount of revenue recognized related to performance obligations satisfied in a previous period, inclusive of changes due to estimates was approximately $5,325, $5,241 and $5,816, respectively.
Receivables, Contract Assets and Liabilities
The balances of receivables, contract assets and contract liabilities with customers were as follows:
December 31,20242023
Receivables$55,377 $9,419 
Contract assets15,967 7,261 
Contract liabilities473 527 
Contract assets represent estimated future consideration related to base commissions and profit-sharing commissions that were recognized as revenue upon the placement of the policy, but are not yet billable or collectable. The Company does not have the right to bill or collect payment on i) base commissions until the
related premiums from policyholders have been collected nor ii) profit-sharing commissions until after the contract year is completed.
Contract liabilities represent advance consideration received from customers related to Employer stop loss base commissions that will be recognized over time as claims servicing is performed, which typically occurs between 17 and 20 months from contract inception. During the years ended December 31, 2024, 2023 and 2022, the Company recognized revenue that was included in the contract liability balance as of the beginning of the period of  $479, $583 and $523, respectively.