Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

The following table shows an analysis of goodwill and intangible assets:


	Goodwill		Intangible assets (indefinite life)		Intangible assets (finite life)		Total
Net balance at Dec. 31, 2021	$	345	$	71	$	529	$	945
Acquisitions (1)	8		—		—		8
Amortization	—		—		(106)		(106)


Foreign currency movements and other adjustments	(11)		(2)		(30)		(43)
Net balance at Dec. 31, 2022	342		69		393		804
Acquisitions (1)	—		—		11		11
Amortization	—		—		(95)		(95)

Impairment	(2)		—		—		(2)
Foreign currency movements and other adjustments	5		1		7		13
Net balance at Dec. 31, 2023	$	345	$	70	$	316	$	731

Gross balance at Dec. 31, 2023	$	348	$	70	$	1,105	$	1,523
Accumulated amortization	—		—		(766)		(766)
Foreign currency movements and other adjustments	(3)		—		(23)		(26)
Net balance at Dec. 31, 2023	$	345	$	70	$	316	$	731

The following table presents the components of goodwill and intangible assets:


	Gross Balance		Accumulated Amortization		Foreign Currency Translation Adjustment and Other		Net Balance
Dec. 31, 2023
Acquired insurance contracts	$	452	$	(441)	$	—	$	11
Operating platform	64		(54)		—		10
Distribution relationships	594		(277)		(23)		294
Goodwill	348		—		(3)		345
Insurance licenses	48		—		—		48
Syndicate capacity	22		—		—		22
Unfavorable service contract	(10)		10		—		—
Other	5		(4)		—		1
Total	$	1,523	$	(766)	$	(26)	$	731

Dec. 31, 2022
Acquired insurance contracts	$	452	$	(426)	$	(1)	$	25
Operating platform	53		(50)		—		3
Distribution relationships	602		(208)		(31)		363
Goodwill	351		—		(9)		342
Insurance licenses	48		—		—		48
Syndicate capacity	22		—		(1)		21
Unfavorable service contract	(10)		10		—		—
Other	5		(3)		—		2
Total	$	1,523	$	(677)	$	(42)	$	804

The estimated remaining amortization expense for the Company’s intangible assets with finite lives is as follows:

The estimated remaining useful lives of these assets range from one to thirteen years at December 31, 2023.