v3.25.2
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following tables set forth the carrying amount and changes in the balance of goodwill by reporting unit at December 31, 2024 and 2023:
($ in thousands)Accident
and Health
SuretyIndustry SolutionsOtherTotal
Goodwill
Gross balance at December 31, 2023$91,577 $6,781 $10,204 $3,879 $112,441 
Accumulated impairment at December 31, 2023(44,821)  (1,886)(46,707)
Net balance at December 31, 2024$46,756 $6,781 $10,204 $1,993 $65,734 
($ in thousands)Accident
and Health
SuretyIndustry SolutionsOtherTotal
Goodwill
Gross balance at December 31, 2022$91,577 $6,781 $10,204 $3,879 $112,441 
Accumulated impairment at December 31, 2022(44,821)— — (1,886)(46,707)
Net balance at December 31, 2023$46,756 $6,781 $10,204 $1,993 $65,734 
The following tables set forth the carrying amount and changes in the balance of other intangible assets at December 31, 2024 and 2023:
($ in thousands)Agent
Relationships
Non-competesTrademarksLicensesTotal
Other Intangible Assets
Gross balance at December 31, 2023$24,491 $1,117 $999 $14,019 $40,626 
Accumulated amortization at December 31, 2023(16,808)(1,117)  (17,925)
Amortization(1,087)   (1,087)
Net balance at December 31, 2024$6,596 $ $999 $14,019 $21,614 
($ in thousands)Agent
Relationships
Non-competesTrademarksLicensesTotal
Other Intangible Assets
Gross balance at December 31, 2022$24,441 $1,117 $999 $14,019 $40,576 
Accumulated amortization at December 31, 2022(15,547)(893)— — (16,440)
Additions50 — — — 50 
Amortization(1,261)(224)— — (1,485)
Net balance at December 31, 2023$7,683 $— $999 $14,019 $22,701 
The Company’s indefinite lived intangible assets relate to insurance licenses and trademarks. Its finite lived intangible assets, which relate to policy renewals, agency relationships, within agent relationships, and non-compete/exclusivity agreements, within non-competes, have a weighted average useful life of approximately 15 years as of December 31, 2024.
The Company recognized approximately $1.1 million in amortization expense for the year ended December 31, 2024, and $1.5 million for the years ended December 31, 2023 and 2022. The following table sets forth the estimated future net amortization expense of intangible assets:
($ in thousands)
Years Ending December 31,
Amount
2025$1,016 
2026553 
2027553 
2028553 
2029553