GOODWILL AND INTANGIBLE ASSETS

Goodwill

The carrying amount of goodwill, both at June 30, 2019 and December 31, 2018, was $73,045,000. There was no goodwill acquired or disposed of during the three or six-month periods ended June 30, 2019.

We completed our most recent goodwill impairment testing during the fourth quarter of 2018 and determined that there was no impairment in the value of the asset as of December 31, 2018. No impairment loss in the value of goodwill was recognized during the three or six months ended June 30, 2019. Additionally, there was no accumulated impairment related to goodwill at June 30, 2019 or December 31, 2018.

Intangible Assets

The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Unaudited Condensed Consolidated Balance Sheets:



	June 30, 2019		December 31, 2018
Intangible assets subject to amortization	$	25,091	$	27,795
Indefinite-lived intangible assets⁽¹⁾	3,630		3,556
Total	$	28,721	$	31,351

⁽¹⁾Indefinite-lived intangible assets are comprised of state insurance and agent licenses, as well as perpetual software licenses.

Intangible assets subject to amortization consisted of the following:



	Weighted-average remaining amortization period (in years)	Gross carrying amount		Accumulated amortization			Net carrying amount
June 30, 2019
Value of business acquired	—	$	42,788	$	(42,788	)	$	—
Agency agreements acquired	7.1	34,661		(13,411		)	21,250
Trade names acquired	4.8	6,381		(2,540		)	3,841
Total		$	83,830	$	(58,739	)	$	25,091

December 31, 2018
Value of business acquired	—	$	42,788	$	(42,788	)	$	—
Agency agreements acquired	7.3	34,661		(11,164		)	23,497
Trade names acquired	5.2	6,381		(2,083		)	4,298
Total		$	83,830	$	(56,035	)	$	27,795

No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three and six months ended June 30, 2019 and 2018.

Amortization expense of our intangible assets was $1,339,000 and $1,365,000 for the three months ended June 30, 2019 and 2018, respectively. Amortization expense of our intangible assets was $2,704,000 and $11,190,000 for the six months ended June 30, 2019 and 2018, respectively.

Estimated amortization expense of our intangible assets to be recognized by the Company over the next five years is as follows:



Year ending December 31,	Estimated Amortization Expense
Remaining in 2019	$	2,652
2020	4,267
2021	3,555
2022	3,246
2023	3,246
2024	2,640