Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets, Net

v3.25.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net, consisted of the following at the dates indicated (amount in thousands):
December 31, 2024
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Trade names $ 5,226  $ (1,841) $ 3,385 
Software development 17,371  (8,404) 8,967 
Customer relationships 2,020  (723) 1,297 
Agent relationships 9,235  (2,761) 6,474 
Know-how 430  (319) 111 
$ 34,282  $ (14,048) $ 20,234 
December 31, 2023
Gross
Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
Trade names $ 7,956  $ (2,058) $ 5,898 
Software development 14,159  (5,517) 8,642 
Customer relationships 8,180  (3,199) 4,981 
Agent relationships 6,016  (1,825) 4,191 
Know-how 430  (233) 197 
$ 36,741  $ (12,832) $ 23,909 
As of December 31, 2024, the estimated future amortization expense for definite-lived intangible assets will be (amount in thousands):
Years Ended December 31,
2025 $ 5,261 
2026 4,704 
2027 3,774 
2028 2,708 
2029 1,747 
Thereafter 2,040 
Total $ 20,234 
Amortization expense for purchased and capitalized software included in technology and development expense was approximately $3.2 million and $2.8 million for the years ended December 31, 2024 and 2023, respectively.
The decrease in intangible assets is due to the sale of our insurance business on May 3, 2024.