Note 7. Other Intangible Assets

3 Months Ended

Mar. 31, 2013

Notes

Note 7. Other Intangible Assets

7.             Other Intangible Assets

The change in the carrying amount of other intangible assets for the three months ended March 31, 2013 and 2012 are as follows (in thousands):

March 31, 2013
	Other Intangible
	Assets
Balance at December 31, 2012	$	3,379
Adjustment for contingent payment		(183)
Amortization expense		(208)
Balance at March 31, 2013	$	2,988

March 31, 2012
	Other Intangible
	Assets
Balance at December 31, 2011	$	906
Amortization expense		(34)
Balance at March 31, 2012	$	872

In July 2012, AMIC acquired the assets and renewal contract rights of a MGU of medical stop-loss business for an aggregate purchase price of $1,825,000.  The purchase price consisted of $1,300,000 in cash and $525,000 in contingent consideration expected to be paid in early 2013 based on expected growth in the acquired block of business.  AMIC recorded other intangible assets representing broker relationships, which will be amortized over a weighted average period of 7.0 years.  In accordance with the terms of the agreement, the fair value of the contingent liability was re-measured in the first quarter of 2013 resulting in a cash payment of $342,000 and a $183,000 decrease in the related intangible asset.