v3.26.1
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of intangible assets and goodwill
The following tables present the economic life, acquisition date fair value, accumulated amortization, impairments and net carrying value for goodwill and other intangible assets as of June 30, 2026 and December 31, 2025:
$ in Millions
Weighted Average Economic Life
(in years)
June 30, 2026
Acquisition Date Fair ValueAccumulated Amortization
Impairments (1)
Net Carrying Value
Goodwill:
ArkN/A$116.8 $— $— $116.8 
KuduN/A7.6 — — 7.6 
DistinguishedN/A397.9 — — 397.9 
WTM Partners (2)
N/A238.3 — — 238.3 
Other OperationsN/A44.4 — 9.1 35.3 
Total goodwill805.0 — 9.1 795.9 
Other intangible assets:
Ark
Underwriting capacityN/A175.7 — — 175.7 
Kudu
Trade names7.02.2 2.2 — — 
Distinguished
Trade names10.024.3 2.0 — 22.3 
Agency relationships8.0127.9 13.5 — 114.4 
Developed technology5.036.6 6.1 — 30.5 
   Subtotal188.821.6— 167.2 
WTM Partners (2)
Trade names10.09.1 1.1 — 8.0 
Customer relationships7.028.5 5.2 — 23.3 
   Subtotal37.66.3— 31.3 
Other Operations
Trade names13.013.3 7.6 .2 5.5 
Customer relationships11.024.8 17.5 .3 7.0 
Other11.73.1 2.0 — 1.1 
  Subtotal41.2 27.1 .5 13.6 
Total other intangible assets445.5 57.2 .5 387.8 
Total goodwill and other intangible assets
$1,250.5 $57.2 $9.6 $1,183.7 
(1) Impairments, which represent inception-to-date amounts, relate to an Other Operating Business.
(2) The relative fair values of goodwill and other intangible assets recognized in connection with the acquisitions of Basesix and Hawkeye Electric had not yet been finalized. All amounts were reflected as goodwill as of June 30, 2026. See Note 2 — “Significant Transactions.”
$ in Millions
Weighted Average Economic Life
(in years)
December 31, 2025
Acquisition Date Fair ValueAccumulated Amortization
Impairments (1)
Net Carrying Value
Goodwill:
ArkN/A$116.8 $— $— $116.8 
KuduN/A7.6 — — 7.6 
Distinguished (2)
N/A396.7 — — 396.7 
WTM Partners (2)
N/A57.7 — — 57.7 
Other OperationsN/A44.4 — 9.1 35.3 
Total goodwill623.2 — 9.1 614.1 
Other intangible assets:
Ark
Underwriting capacityN/A175.7 — — 175.7 
Kudu
Trade names7.02.2 2.1 — .1 
Distinguished (2)
Trade names10.024.3 .8 — 23.5 
Agency relationships8.0127.9 5.0 — 122.9 
Developed technology5.036.6 2.0 — 34.6 
   Subtotal188.8 7.8 — 181.0 
WTM Partners (2)
Trade names
10.09.1 .7 — 8.4 
Customer relationships
7.028.5 3.0 — 25.5 
   Subtotal
37.6 3.7 — 33.9 
Other Operations
Trade names13.013.3 7.1 .2 6.0 
Customer relationships11.024.8 16.2 .3 8.3 
Other11.83.1 2.0 — 1.1 
  Subtotal41.2 25.3 .5 15.4 
Total other intangible assets445.5 38.9 .5 406.1 
Total goodwill and other intangible assets
$1,068.7 $38.9 $9.6 $1,020.2 
(1) Impairments, which represent inception-to-date amounts, relate to an Other Operating Business.
(2) The relative fair values of goodwill and other intangible assets recognized in connection with the acquisitions of Distinguished and Enterprise Solutions had not yet been finalized. See Note 2 — “Significant Transactions.”
The following tables present the change in goodwill and other intangible assets for the three and six months ended June 30, 2026 and 2025:

Three Months Ended June 30,
20262025
MillionsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible AssetsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible Assets
Beginning balance$615.3 $396.4 $1,011.7 $439.2 $275.9 $715.1 
Acquisition of businesses (1)(2)
180.6 — 180.6 95.4 — 95.4 
Amortization— (8.6)(8.6)— (5.1)(5.1)
Ending balance$795.9 $387.8 $1,183.7 $534.6 $270.8 $805.4 
(1) During the three months ended June 30, 2026, amounts relate to the acquisitions of Basesix and Hawkeye Electric, for which the relative fair values of goodwill and other intangible assets had not yet been finalized. All amounts were reflected as goodwill as of June 30, 2026. See Note 2 — “Significant Transactions.”
(2) During the three months ended June 30, 2025, amounts relate to the acquisition of Enterprise Solutions, for which the relative fair values of goodwill and other intangible assets had not yet been finalized. All amounts were reflected as goodwill as of June 30, 2025. See Note 2 — “Significant Transactions.”
Six Months Ended June 30,
20262025
MillionsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible AssetsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible Assets
Beginning balance$614.1 $406.1 $1,020.2 $439.2 $281.1 $720.3 
Acquisitions of businesses (1)(2)
180.6 — 180.6 95.4 — 95.4 
Measurement period adjustments (3)
1.2 — 1.2 — — — 
Amortization— (18.3)(18.3)— (10.3)(10.3)
Ending balance$795.9 $387.8 $1,183.7 $534.6 $270.8 $805.4 
(1) During the six months ended June 30, 2026, amounts relate to the acquisitions of Basesix and Hawkeye Electric, for which the relative fair values of goodwill and other intangible assets had not yet been finalized. All amounts were reflected as goodwill as of June 30, 2026. See Note 2 — “Significant Transactions.”
(2) During the six months ended June 30, 2025, amounts relate to the acquisition of Enterprise Solutions, for which the relative fair values of goodwill and other intangible assets had not yet been finalized. All amounts were reflected as goodwill as of June 30, 2025. See Note 2 — “Significant Transactions.”
(3) Measurement period adjustments relate to updated information about acquisition date fair values of assets acquired and liabilities assumed. Adjustments relate to the Distinguished Transaction.