At June 30, 2026 and December 31, 2025, intangible assets were $27.1 million and $30.2 million, respectively. The Company has determined the useful life of its intangible assets to range between 2.5-15 years. Intangible assets include $1.3 million relating to insurance licenses which is classified as an indefinite lived intangible and is subject to annual impairment testing.

The Company’s intangible assets consist of brand, agent relationships, renewal rights, customer relations, trade names and insurance licenses.

Amortization expense of the Company’s intangible assets for the three month periods ended June 30, 2026 and 2025 was $1.5 and $1.6 million, respectively. Amortization expense for intangible assets for the six month periods ended June 30, 2026 and 2025 was $3.0 million and $3.1 million, respectively. No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three and six months ended June 30, 2026 or 2025.

Estimated annual pretax amortization of intangible assets for each of the next five years and thereafter is as follows (in thousands):


Year	Amount
2026 − remaining	$	2,993
2027	$	5,836
2028	$	3,913
2029	$	3,813
2030	$	3,813
Thereafter	$	5,464
Total	$	25,832