Acquisitions and Intangible Assets

12 Months Ended

Dec. 31, 2022

Acquisitions and Intangible Assets [Abstract]

Acquisitions and Intangible Assets

4. Acquisitions and Intangible Assets:

We have obtained various intangible assets from several acquisitions which carry a determinable period of benefit or definite-lived useful life. The table below details the gross and net carrying amounts of these assets by major category (in thousands):

	December 31
	2022		2021
Gross Carrying Amount:
Customer/agent relationships	$	25,792	$	32,177
Tradename		2,682		3,440
Management agreement		3,232		3,232
Non-compete & employment agreements		3,710		4,235
Total gross carrying amount		35,416		43,084
Accumulated Amortization:
Customer/agent relationships		(25,792)		(31,443)
Tradename		(2,682)		(3,355)
Management agreement		(3,232)		(3,232)
Non-compete & employment agreements		(3,710)		(4,235)
Total accumulated amortization		(35,416)		(42,265)
Total net carrying amount	$	—	$	819

In 2022, the Company reduced its definite-lived intangible assets $7.7 million along with $7.3 million of related accumulated amortization as a result of the sale of the Company’s excess and surplus lines operations to Core Specialty. Furthermore, the remaining definite-lived intangible assets associated with our Continuing operation fully amortized

during 2022. In 2022, we recognized $25 thousand and $357 thousand in amortization of intangibles for continuing operations and discontinued operations, respectively.