| Schedule of changes in goodwill and intangible assets |
Goodwill and intangible assets were comprised as follows: | | | | | | | | | | | | | | | | | Goodwill | | Intangible assets | | Total | | | | | Lloyd’s | | Customer | | | | Computer | | | | | | | | | participation | | and broker | | Brand | | software | | | | | | | | | rights(1) | | relationships(2) | | names(1)(2) | | and other(1)(2) | | Subtotal | | | Balance - January 1, 2025 | | 4,124.9 | | 503.2 | | 1,203.5 | | 1,844.6 | | 602.0 | | 4,153.3 | | 8,278.2 | Additions(3) | | 140.1 | | — | | 3.8 | | 268.7 | | 172.4 | | 444.9 | | 585.0 | Disposals(3) | | (76.8) | | — | | — | | (236.4) | | (25.8) | | (262.2) | | (339.0) | Amortization | | — | | — | | (132.9) | | (10.4) | | (121.8) | | (265.1) | | (265.1) | Impairments(4) | | (32.0) | | — | | (2.1) | | — | | (67.3) | | (69.4) | | (101.4) | Foreign exchange effect and other | | 74.2 | | — | | 21.4 | | 65.0 | | 21.1 | | 107.5 | | 181.7 | Balance - December 31, 2025 | | 4,230.4 | | 503.2 | | 1,093.7 | | 1,931.5 | | 580.6 | | 4,109.0 | | 8,339.4 | | | | | | | | | | | | | | | | Gross carrying amount | | 4,553.3 | | 503.2 | | 2,064.7 | | 1,997.3 | | 1,284.8 | | 5,850.0 | | 10,403.3 | Accumulated amortization | | — | | — | | (942.5) | | (31.1) | | (674.2) | | (1,647.8) | | (1,647.8) | Accumulated impairment and other | | (322.9) | | — | | (28.5) | | (34.7) | | (30.0) | | (93.2) | | (416.1) | | | 4,230.4 | | 503.2 | | 1,093.7 | | 1,931.5 | | 580.6 | | 4,109.0 | | 8,339.4 |
| | | | | | | | | | | | | | | | | Goodwill | | Intangible assets | | Total | | | | | Lloyd’s | | Customer | | | | Computer | | | | | | | | | participation | | and broker | | Brand | | software | | | | | | | | | rights(1) | | relationships(2) | | names(1)(2) | | and other(1)(2) | | Subtotal | | | Balance - January 1, 2024 | | 3,121.9 | | 503.2 | | 1,070.6 | | 1,169.9 | | 510.7 | | 3,254.4 | | 6,376.3 | Additions(3) | | 1,152.5 | | — | | 335.8 | | 777.9 | | 272.5 | | 1,386.2 | | 2,538.7 | Disposals | | (22.9) | | — | | (17.0) | | (1.0) | | (3.2) | | (21.2) | | (44.1) | Amortization | | — | | — | | (125.0) | | (2.8) | | (138.7) | | (266.5) | | (266.5) | Impairments | | (30.3) | | — | | (52.0) | | (2.6) | | (10.6) | | (65.2) | | (95.5) | Foreign exchange effect and other | | (96.3) | | — | | (8.9) | | (96.8) | | (28.7) | | (134.4) | | (230.7) | Balance - December 31, 2024 | | 4,124.9 | | 503.2 | | 1,203.5 | | 1,844.6 | | 602.0 | | 4,153.3 | | 8,278.2 | | | | | | | | | | | | | | | | Gross carrying amount | | 4,488.0 | | 503.2 | | 2,039.4 | | 1,901.3 | | 1,839.9 | | 6,283.8 | | 10,771.8 | Accumulated amortization | | — | | — | | (803.7) | | (20.1) | | (1,209.6) | | (2,033.4) | | (2,033.4) | Accumulated impairment and other | | (363.1) | | — | | (32.2) | | (36.6) | | (28.3) | | (97.1) | | (460.2) | | | 4,124.9 | | 503.2 | | 1,203.5 | | 1,844.6 | | 602.0 | | 4,153.3 | | 8,278.2 |
(1) | Indefinite-lived intangible assets not subject to amortization had an aggregate carrying value at December 31, 2025 of $2,345.7 (December 31, 2024 - $2,294.7), which included brand names of $1,753.2 (December 31, 2024 - $1,700.5). Brand names and Lloyd’s participation rights are considered to be indefinite-lived based on their strength, history and expected future use. |
(2) | Intangible assets with a finite life, including customer and broker relationships (8 to 20 years) and computer software (3 to 15 years), had an aggregate carrying value at December 31, 2025 of $1,763.3 (December 31, 2024 - $1,858.6). |
(3) | On August 13, 2025 the company acquired The Keg Royalties Income Fund (“The Keg Fund”) and recorded the transaction as an asset purchase substantially comprised of the brand name and other intellectual property used in the operation of The Keg restaurants. On September 25, 2025 the company deconsolidated Keg Restaurants Ltd. During 2024 the company acquired Sleep Country and acquired additional interests in Meadow Foods and Peak Achievement, and consolidated their assets and liabilities on their respective acquisition dates. See note 21. |
(4) | Primarily reflects non-cash impairment charges of $108.6 recorded at Boat Rocker in relation to its strategic transaction with Blue Ant. See note 21. |
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| Schedule goodwill and intangible asset allocation to CGUs |
Goodwill and intangible assets were allocated to the company’s cash-generating units (“CGUs”) as follows: | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | | | | Intangible | | | | | | Intangible | | | | | Goodwill | | assets | | Total | | Goodwill | | assets | | Total | Insurance and reinsurance companies | | | | | | | | | | | | | Allied World | | 940.0 | | 387.6 | | 1,327.6 | | 940.0 | | 431.0 | | 1,371.0 | Gulf Insurance | | 346.3 | | 513.4 | | 859.7 | | 346.6 | | 542.9 | | 889.5 | Brit(1) | | 169.1 | | 520.9 | | 690.0 | | 167.3 | | 521.6 | | 688.9 | Zenith National | | 317.6 | | 55.0 | | 372.6 | | 317.6 | | 62.6 | | 380.2 | Crum & Forster | | 132.6 | | 73.3 | | 205.9 | | 132.6 | | 84.0 | | 216.6 | Northbridge | | 77.8 | | 101.6 | | 179.4 | | 76.9 | | 110.9 | | 187.8 | Odyssey Group | | 107.9 | | 56.2 | | 164.1 | | 107.9 | | 49.8 | | 157.7 | All other(1)(2) | | 98.1 | | 126.2 | | 224.3 | | 92.5 | | 112.3 | | 204.8 | | | 2,189.4 | | 1,834.2 | | 4,023.6 | | 2,181.4 | | 1,915.1 | | 4,096.5 | Non-insurance companies | | | | | | | | | | | | | Recipe | | 266.6 | | 899.7 | | 1,166.3 | | 264.0 | | 835.3 | | 1,099.3 | Sleep Country | | 613.8 | | 455.3 | | 1,069.1 | | 517.3 | | 398.3 | | 915.6 | Peak Achievement | | 270.9 | | 434.7 | | 705.6 | | 279.0 | | 443.0 | | 722.0 | Meadow Foods | | 240.0 | | 320.6 | | 560.6 | | 222.0 | | 322.2 | | 544.2 | AGT | | 154.4 | | 58.4 | | 212.8 | | 148.2 | | 55.5 | | 203.7 | Thomas Cook India | | 117.5 | | 51.9 | | 169.4 | | 123.4 | | 46.0 | | 169.4 | Boat Rocker(3) | | — | | — | | — | | 29.4 | | 78.1 | | 107.5 | All other(4) | | 377.8 | | 54.2 | | 432.0 | | 360.2 | | 59.8 | | 420.0 | | | 2,041.0 | | 2,274.8 | | 4,315.8 | | 1,943.5 | | 2,238.2 | | 4,181.7 | | | 4,230.4 | | 4,109.0 | | 8,339.4 | | 4,124.9 | | 4,153.3 | | 8,278.2 |
| (1) | On January 1, 2025 Ki completed the separation from its parent company Brit and became a separate operating company within the Global Insurers and Reinsurers reporting segment. |
| (2) | Comprised primarily of balances related to Ki, AMAG Insurance, Eurolife General and Fairfax Central and Eastern Europe. |
| (3) | On August 1, 2025 the company deconsolidated Boat Rocker upon its strategic transaction with Blue Ant. See note 21. |
| (4) | Comprised primarily of balances related to Dexterra Group, Grivalia Hospitality and Fairfax India’s subsidiaries. |
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