On December 11, 2007, the Company completed an acquisition of James River Group by acquiring 100% of the outstanding shares of James River Group common stock, referred to herein as the “Merger”. The transaction was accounted for

under the purchase method of accounting, and goodwill and intangible assets were recognized by the Company as a result of the transaction. Goodwill resulting from the Merger was $181.8 million at March 31, 2026 and December 31, 2025.

The gross carrying amounts and accumulated amortization for each major specifically identifiable intangible asset class were as follows:


		March 31, 2026				December 31, 2025
	Life (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
		($ in thousands)
Intangible Assets
Trademarks	Indefinite	$	19,700	$	—	$	19,700	$	—
Insurance licenses and authorities	Indefinite	8,964		—		8,964		—
Identifiable intangible assets not subject to amortization		28,664		—		28,664		—
Broker relationships	24.6	11,611		8,279		11,611		8,188
Identifiable intangible assets subject to amortization		11,611		8,279		11,611		8,188
		$	40,275	$	8,279	$	40,275	$	8,188