Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

Our major classes of intangible assets are presented in the following table:

	Year Ended December 31,
	2023		2022
Agency relationships	$	10,338	$	10,338
Accumulated amortization - agency relationships	(9,040)		(8,462)
	$	1,298	$	1,876
Trade names	$	1,978	$	1,978
Accumulated amortization - trade names	(1,681)		(1,550)
	$	297	$	428
State insurance licenses (1)	$	3,020	$	3,020
Net intangible assets	$	4,615	$	5,324

(1) The intangible asset for licenses has an indefinite life and therefore is not amortized.

The estimated useful lives assigned to our major classes of amortizable intangible assets are as follows:

	Useful Life
Agency relationships	Fifteen years
Trade names	Fifteen years

Our estimated aggregate amortization expense for each of the next five years is as follows:

2024	$	709
2025	709
2026	177
2027	–
2028	–