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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
The following tables show an analysis of goodwill and other intangible assets, net of foreign currency translation adjustments, included in goodwill and other intangible assets on the Company’s consolidated balance sheets:
Goodwill and Other Intangible Assets
At December 31, 20222021
Goodwill, net$210,894 $210,920 
Other intangible assets, net26,934 32,576 
Total goodwill and other intangible assets$237,828 $243,496 
Included in goodwill and other intangible assets on the Company’s consolidated balance sheet at December 31, 2022 was gross goodwill of $213.2 million (2021 - $213.2 million, 2020 - $213.3 million). Included in goodwill, net at December 31, 2022 was accumulated impairment losses of $2.3 million (2021 - $2.3 million).
In addition, the Company has also recorded goodwill and other intangible assets included in investments in other ventures, under equity method on the Company’s consolidated balance sheets:
Goodwill and Other Intangible Assets Included in Investments in Other Ventures, Under Equity Method
At December 31, 20222021
Goodwill, net$9,903 $9,903 
Other intangible assets, net7,866 8,716 
Total goodwill and other intangible assets$17,769 $18,619 
Included in investments in other ventures, under equity method on the Company’s consolidated balance sheet at December 31, 2022 was gross goodwill of $14.4 million (2021 - $14.4 million, 2020 - $15.1 million). Included in goodwill, net at December 31, 2022, was accumulated impairment losses of $4.5 million (2021 - $4.5 million).
The following table shows a roll forward of goodwill included in goodwill and other intangible assets and goodwill included in investments in other ventures, under equity method on the Company’s consolidated balance sheets:
Goodwill
Goodwill and Other Intangible AssetsGoodwill and Other Intangible Assets Included in Investments in Other Ventures, Under Equity Method
Balance at December 31, 2020, net$211,013 $10,598 
Acquired— (695)
Foreign currency translation(93)— 
Balance at December 31, 2021, net210,920 9,903 
Foreign currency translation(26)— 
Balance at December 31, 2022, net$210,894 $9,903 
The gross carrying value, accumulated amortization and accumulated impairment losses by major category of other intangible assets included in goodwill and other intangible assets and investments in other ventures, under equity method on the Company’s consolidated balance sheets are shown below:
Other Intangible Assets
At December 31, 2022Gross 
Carrying  
Value		Accumulated
Amortization 		Accumulated Impairment LossesNet
Customer relationships and customer lists$108,704 $(89,736)$(1,403)$17,565 
Licenses (1)
23,779 — (6,800)16,979 
Value of business acquired20,200 (20,200)— — 
Software12,230 (12,230)— — 
Patents and intellectual property4,500 (1,875)(2,625)— 
Covenants not-to-compete4,030 (4,030)— — 
Trademarks and trade names1,710 (1,454)— 256 
$175,153 $(129,525)$(10,828)$34,800 
(1)Licenses is comprised of $17.0 million of indefinite lived other intangible assets, included in other intangible assets, net, as of December 31, 2022
Other Intangible Assets
At December 31, 2021Gross 
Carrying  
Value		Accumulated
Amortization		Accumulated Impairment LossesNet
Customer relationships and customer lists$108,742 $(83,307)$(1,403)$24,032 
Licenses (1)
23,779 — (6,800)16,979 
Value of business acquired20,200 (20,200)— — 
Software12,230 (12,230)— — 
Patents and intellectual property4,500 (1,875)(2,625)— 
Covenants not-to-compete4,030 (4,030)— — 
Trademarks and trade names1,710 (1,429)— 281 
$175,191 $(123,071)$(10,828)$41,292 
(1)Licenses is comprised of $17.0 million of indefinite lived other intangible assets, included in other intangible assets, net, as of December 31, 2021
During 2022, the Company recorded amortization expense of $6.5 million and an impairment loss of $Nil related to other intangible assets (2021 - $7.2 million and $Nil, respectively).
In performing the impairment assessment, the Company first assessed qualitative factors to determine whether it was necessary to perform a quantitative impairment test. Based on its qualitative assessment, the Company determined it was not more likely than not that the fair value of the goodwill and other intangible assets in question were less than their respective carrying amounts. The qualitative assessment included the following factors which the Company determined had not significantly deteriorated given specific facts and circumstances: macroeconomic conditions; industry and market conditions; costs factors; and overall financial performance. Other than normal course amortization of intangible assets, in accordance with the Company’s established accounting policy, there were no adjustments to carried goodwill and other intangible assets during the year ended December 31, 2022.
In accordance with the Company’s established accounting policy, the Company performed goodwill and other intangible assets impairment tests during the second half of the year. During 2020, the Company elected to renew certain reinsurance contracts, that had previously been written on one of the acquired TMR balance sheets, on other balance sheets within the consolidated group and placed the TMR entity into run-off. Accordingly and in connection with the Company’s impairment assessment performed during the fourth quarter of 2020, it was determined that the license associated with this acquired TMR entity, which
was initially reflected as an indefinite lived intangible asset of $6.8 million at the time of the acquisition of TMR, should be written down to $Nil.
The remaining useful life of intangible assets with finite lives ranges from 0.3 to 11.2 years, with a weighted-average amortization period of 4.8 years. Expected amortization of the other intangible assets, including other intangible assets recorded in investments in other ventures, under equity method, is shown below:
Other
Intangibles Assets		Other Intangible Assets Included in Investments in Other Ventures, Under Equity MethodTotal
2023$5,173 $754 $5,927 
20244,716 194 4,910 
20251,976 24 2,000 
20261,378 24 1,402 
20271,312 24 1,336 
2028 and thereafter2,115 134 2,249 
Total remaining amortization expense16,670 1,154 17,824 
Indefinite lived10,264 6,712 16,976 
Total$26,934 $7,866 $34,800