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Goodwill and Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2019 were as follows:



($ in thousands)	December 31, 2018		Impairment			Acquisitions		September 30, 2019
Property and Casualty	$	9,460	$	—		$	—	$	9,460
Supplemental ⁽¹⁾	—		—			19,286		19,286
Retirement	28,025		(28,025		)	10,087		10,087
Life	9,911		—			—		9,911
Total	$	47,396	$	(28,025	)	$	29,373	$	48,744

_____________

⁽¹⁾

Based on preliminary purchase price allocation.

Summary of Finite-Lived Intangible Assets

As of September 30, 2019 the outstanding amounts of definite-lived intangible assets subject to amortization were as follows:



($ in thousands)	Useful Life (in Years)
At inception:
Value of business acquired	17 - 35	$	94,419
Value of distribution acquired	16 - 17	53,996
Value of agency relationships	14	16,981
Value of customer relationships	10	9,080
Total		174,476
Accumulated amortization:
Value of business acquired		(1,844		)
Value of distribution acquired		(973		)
Value of agency relationships		(745		)
Value of customer relationships		(1,300		)
Total		(4,862		)
Net intangible assets subject to amortization:		$	169,614

Future Amortization Expense

Estimated future amortization of the Company's definite-lived intangible assets were as follows:



($ in thousands)
Year Ending December 31,
2019 (excluding the nine months ended September 30, 2019)	$	3,920
2020	14,471
2021	13,396
2022	12,420
2023	11,566
2024	10,796
Thereafter	103,045
Total	$	169,614

Summary of Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets (not subject to amortization) as of September 30, 2019 were as follows:



($ in thousands)
Trade names	$	8,645
State licenses	2,886
Total	$	11,531

The trade names intangible asset represents the present value of future savings accruing NTA by virtue of not having to pay royalties for the use of the trade names, valued using the relief from royalty method. The state licenses intangible asset represents the regulatory licenses held by NTA that were valued using the cost approach.