Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1529

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1529
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For the year ended December 31,202420232022Payout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up LifePresent Value of Expected Net PremiumsBalance, beginning of the period$49 $47 $58 Balance, ending of the period $45 $49 $47 Present Value of Expected Future Policy BenefitsBeginning balance at single-A rate$137 $113 $185 $140 $112 $192 $188 $152 $262 Beginning adjustment for changes in single-A rate7 (11)(32)4 (14)(39)47 19 14 Beginning balance at original discount rate130 124 217 136 126 231 141 133 248 Effect of changes in cash flow assumptions2 2 — (2)— — — — — Effect of actual variances from expected experience1 3 (1)1 7 (1)— 5 — Adjusted beginning balance133 129 216 135 133 230 141 138 248 Interest accrual and other7 20 7 7 20 8 8 17 7 Benefit Payments(12)(28)(22)(12)(29)(21)(13)(29)(24)Ending balance at original discount rate128 121 201 130 124 217 136 126 231 Ending adjustment for changes in single-A rate— (15)(33)7 (11)(32)4 (14)(39)Ending balance at single-A rate$128 $106 $168 $137 $113 $185 $140 $112 $192 Net reserve for future policy benefits$128 $61 $168 $137 $64 $185 $140 $65 $192 Weighted-average duration of the reserve for future policy benefits (years)9.211.06.39.012.26.49.211.46.4 Net Reserve for Future Policy BenefitsAs of December 31,202420232022Payout Annuities$128 $137 $140 Life Conversions61 64 65 Paid-up Life168 185 192 Deferred Profit Liability17 20 19 Other74 78 86 Total$448