ACQUISITION

3 Months Ended

Mar. 31, 2017

ACQUISITION

ACQUISITION

8.  ACQUISITION

On February 29, 2016, we acquired the assets of Associations Liability Insurance Agency, Inc. for $1.2 million, which includes $0.9 million of cash paid at acquisition and $0.3 million associated with the present value of a contingent earn-out agreement. The earn-out is subject to the achievement of certain targets and may be adjusted in future periods based on actual performance achieved. Separately identifiable assets of the agency totaling $1.2 million, relating to acquired software, trade name and agency relationships, were recognized.