Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1299

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1299
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writing gain (loss) provides investors with a valuable measure of profitability, before tax, derived from underwriting activities, which are managed separately from the Company's investing activities. 

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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

Reconciliation of Net Income to Underwriting Gain (Loss)

 For the years ended December 31,202420232022Business InsuranceNet income$2,349 $2,085 $1,624 Adjustments to reconcile net income to underwriting gain:Net investment income(1,714)(1,532)(1,415)Net realized losses73 156 385 Other expense5 1 12 Income tax expense576 502 426 Underwriting gain$1,289 $1,212 $1,032 Personal InsuranceNet income (loss)$208 $(39)$91 Adjustments to reconcile net income (loss) to underwriting gain (loss):Net investment income(222)(171)(140)Net realized losses14 16 35 Net servicing and other income(18)(21)(17)Income tax expense (benefit) 49 (15)22 Underwriting gain (loss) $31 $(230)$(9)P&C Other OpsNet loss$(127)$(130)$(190)Adjustments to reconcile net loss to underwriting loss:Net investment income(74)(69)(63)Net realized losses4 7 16 Other expense4 — — Income tax benefit(35)(36)(52)Underwriting loss$(228)$(228)$(289)

Written and Earned Premiums- Written premium represents the amount of premiums charged for policies issued, net of reinsurance, during a fiscal period. Premiums are considered earned and are included in the financial results on a pro rata basis over the policy period. Management believes that written premium is a performance measure that is useful to investors as it reflects current trends in the Company’s sale of property and casualty insurance products. Written and earned premium are recorded net of ceded reinsurance premium.Traditional life and disability insurance type products, such as those sold by Employee Benefits, collect premiums from policyholders in exchange for financial protection for the policyholder from a specified insurable loss, such as death or disability. These premiums, together with net investment income earned, are used to pay the contractual obligations under these insurance contracts.Two major