Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1779

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1779
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 lesser extent, futures to manage interest rate duration between assets and liabilities. In addition, the Company enters into interest rate swaps to terminate existing swaps, thereby offsetting the changes in value of the original swap going forward. As of December 31, 2024 and December 31, 2023, the notional amount of interest rate swaps in offsetting relationships was $344 and $6.6 billion, respectively.Foreign Currency Swaps and ForwardsThe Company enters into foreign currency swaps to convert the foreign currency exposures of certain foreign currency-denominated fixed maturity investments to U.S. dollars. Equity Index OptionsThe Company enters into equity index options to hedge the impact of a decline in the equity markets on the investment portfolio.Commodity OptionsThe Company previously purchased call option contracts on oil futures in order to partially offset potential changes in value related to certain fixed maturity securities that could arise if oil prices increased substantially.Derivative Balance Sheet ClassificationFor reporting purposes, the Company has elected to offset within assets or liabilities based upon the net of the fair value amounts, income accruals, and related cash collateral receivables and payables of OTC derivative instruments executed in a legal entity and with the same counterparty under a master netting agreement, which provides the Company with the legal right of offset. The following fair value amounts do not include income accruals or related cash collateral receivables and payables, which are netted with derivative fair value amounts to determine balance sheet presentation. The Company’s derivative instruments are held for risk management purposes, unless otherwise noted in the following table. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and is presented in the table to quantify the volume of the Company’s derivative activity. Notional amounts are not necessarily reflective of credit risk.

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|Index to Consolidated Financial Statements and SchedulesTable of ContentsNote 6 - DerivativesTHE HARTFORD INSURANCE GROUP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

Derivative Balance Sheet Presentation Net DerivativesAsset Derivatives Liability Derivatives  Notional AmountFair ValueFair ValueFair ValueHedge Designation/ Derivative TypeDec 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023Cash flow hedgesInterest rate swaps$