Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 98

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 98
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 may result in a decrease in statutory surplus and RBC ratios;•A decline in investment yields may reduce our net investment income, which may result in a decrease in statutory surplus and RBC ratios;•Decreases in the value of certain derivative instruments that do not get hedge accounting, may reduce statutory surplus and RBC ratios; and•Non-market factors can also impact the amount and volatility of either our actual or potential obligation, as well as the related statutory surplus and RBC ratios.Most of these factors are outside of the Company’s control. Among other factors, rating agencies consider the level of statutory capital and surplus of our U.S. insurance subsidiaries as well as the level of GAAP capital held by the Company in determining the Company’s financial strength and credit ratings. Rating agencies may implement changes to their internal models that have the effect of increasing or decreasing the amount of capital we must hold in order to maintain our current ratings.

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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

Investment Portfolio Risk

The following table presents the Company’s fixed maturities, AFS, by credit quality. The credit ratings referenced throughout this section are based on availability and are generally the midpoint of the available ratings among Moody’s, S&P, and Fitch. If no rating is available from a rating agency, then an internally developed rating is used. Accrued investment income related to fixed maturities is not included in the amortized cost or fair value of the fixed maturities. For further information refer to Note 5 - Investments of Notes to Consolidated Financial Statements.

Fixed Maturities, AFS by Credit Quality

 December 31, 2024December 31, 2023 Amortized CostFair ValuePercent of Total Fair ValueAmortized CostFair ValuePercent of Total Fair ValueUnited States Government/Government agencies$5,424 $4,937 11.6 %$5,174 $4,776 12.0 %AAA7,340 7,166 16.8 %7,277 7,055 17.7 %AA7,762 7,484 17.6 %7,527 7,270 18.3 %A11,422 10,933 25.7 %10,253 9,828 24.7 %BBB10,227 9,722