Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1606

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1606
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 monthly average invested assets at amortized cost, as applicable, excluding derivatives book value.

[2]Includes net investment income on short-term investments.

[3]Primarily includes changes in fair value of certain equity fund investments and income from derivatives that qualify for hedge accounting and are used to hedge fixed maturities.

Year ended December 31, 2024 compared to the year ended December 31, 2023Total net 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.Annualized net investment income yield, excluding limited partnerships and other alternative investments, was up primarily due to the impact of reinvesting at higher rates.Average reinvestment rate, on fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the year-ended December 31, 2024 was 5.9%, which was above the average yield of sales and maturities of 5.0% for the same period. Average reinvestment rate, on fixed maturities and mortgage loans, excluding U.S. Treasury securities, for the year-ended December 31, 2023 was 5.8%, which was above the average yield of sales and maturities of 4.4% for the same period.For the 2025 calendar year, we expect the annualized net investment income yield, excluding limited partnerships and other alternative investments, to be marginally higher than the portfolio yield earned in 2024. The estimated impact on annualized net investment income yield is subject to variability including the impact of evolving market conditions.

Net Realized Gains (Losses)For the years ended December 31,(Before tax)202420232022Gross gains on sales of fixed maturities$31 $30 $57 Gross losses on sales of fixed maturities(198)(149)(315)Equity securities [1]73 78 (349)Net credit losses on fixed maturities, AFS [2](2)(14)(18)Change in ACL on mortgage loans [3]3 (15)(7)Intent-to-sell impairments [2]— — (6)Other, net [4]32 (118)11 Net realized gains (losses)$(61)$(188)$(627)

[1]The change in net unrealized gains (losses) on equity securities still held as