Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1305

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1305
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 primarily due to a $62 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve month period.Net Investment IncomeNet investment income increased primarily due to a higher level of invested assets and the impact of higher reinvestment rates, partially offset by a lower level of income on limited partnerships and other alternative investments.Net realized losses improved primarily due to: •Losses on credit derivatives in the 2023 period;•Gains on transactional foreign currency revaluation in the 2024 period compared to losses in the 2023 period; and•A favorable change in the ACL on mortgage loans and fewer net credit losses on fixed maturities, AFS.These improvements were partially offset by:•Greater net losses on sales of fixed maturities.For further discussion of investment results, see MD&A - Investment Results, Net Investment Income and MD&A - Investment Results, Net Realized Gains (Losses).

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|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

BENEFITS, LOSSES AND EXPENSES

Losses and LAE Incurred for P&CBenefits, losses and loss adjustment expenses increased $636, due to:•An increase in Property & Casualty of $637, which was attributable to:–An increase in P&C CAY loss and LAE before catastrophes of $675, before tax, primarily due to the effect of higher earned premiums, partially offset by a lower underlying loss and LAE ratio in Personal Insurance; and–An increase in CAY catastrophe losses of $92, before tax. Catastrophe losses in the 2024 period included losses from tornado, wind and hail events across several regions of the United States, as well as hurricanes and tropical storms primarily in the Southeast, South and Mid-Atlantic regions, and, to a lesser extent, from winter storms, primarily in the Pacific, Northeast, and South regions. Catastrophe losses in the 2023 period included losses from tornado, wind and hail events across several regions of the United States, and losses from winter storms along the East and West Coasts.Employee Benefits Losses and LAE IncurredPartially offset by:–A favorable change of $130, before tax, in P&C net prior accident year reserve development, with development in the 2024 period of a net favorable $120, before tax, and development