Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Kelvin Re Limited

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the net tangible and intangible assets acquired and liabilities assumed as of June 1, 2022:

	(dollars in thousands)
Cash and cash equivalents	$	92,589
Cash collateral pledged	316,049
Premiums receivable from cedants	58,904
Claims recoverable from reinsurers	52,526
Insurance and reinsurance assets	111,430
Other assets	94
Premiums and other costs payable to reinsurers	(5,400)
Claims liabilities	(292,026)
Insurance and reinsurance liabilities	(297,426)
Accounts payable, accrued expenses and other liabilities	(1,711)
Total net assets acquired	$	221,025

Cowen Insurance

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as of February 26, 2021:

	(dollars in thousands)
Cash	$	14,844
Securities owned, at fair value	1,571
Fixed assets	30
Intangible assets	4,794
Other assets	12,828
Compensation payable	(17)
Other liabilities	(16,099)
Total net identifiable assets acquired and liabilities assumed	17,951
Bargain purchase gain	(5,216)
Total estimated purchase price	$	12,735

Finite-lived Intangible Assets Amortization Expense

As of December 31, 2022, the estimated amortization expense related to these intangible assets in future periods is as follows:

	(dollars in thousands)
2023	466
2024	466
2025	466
2026	466
2027	466
Thereafter	1,693
	$	4,023

MHT Partners

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as of October 1, 2020:

	(dollars in thousands)
Fixed assets	$	101
Operating lease right-of-use assets	1,120
Intangible assets	1,224
Other assets	43
Compensation payable	(533)
Operating lease liabilities	(1,446)
Total net identifiable assets acquired and liabilities assumed	509
Goodwill	9,356
Total estimated purchase price	$	9,865

Finite-lived Intangible Assets Amortization Expense

The estimated amortization expense related to these intangible assets in future periods is as follows:

	(dollars in thousands)
2023	$	289
2024	209
2025	52
2026	—
2027	—
Thereafter	—
	$	550

Schedule of Acquired Indefinite-lived Intangible Assets by Major Class

The allocation of the intangible assets is shown within the following table:

	Estimated intangible assets acquired		Estimated average remaining useful lives
	(dollars in thousands)		(in years)
Intangible asset class
Trade name	$	131	3
Customer relationships	749		4
Non-compete agreements	344		5
Total intangible assets	$	1,224

Portico

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as of December 16, 2021:

	(dollars in thousands)
Cash	$	5,089
Operating lease right-of-use assets	2,707
Fixed assets	8
Intangible assets	19,900
Other assets	514
Operating lease liabilities	(2,707)
Other liabilities	(401)
Total net identifiable assets acquired and liabilities assumed	25,110
Goodwill	86,921
Total estimated purchase price	$	112,031

Finite-lived Intangible Assets Amortization Expense

The estimated amortization expense related to these intangible assets in future periods is as follows:

	(dollars in thousands)
2023	$	3,376
2024	3,376
2025	3,235
2026	—
2027	—
Thereafter	—
	$	9,987

Schedule of Acquired Indefinite-lived Intangible Assets by Major Class

The allocation of the intangible assets is shown within the following table:

	Estimated intangible assets acquired		Estimated average remaining useful lives
	(dollars in thousands)		(in years)
Intangible asset class
Trade name	$	400	1
Customer relationships	13,400		4
Backlog	6,100		1
Total intangible assets	$	19,900