Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 36

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 36
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 for unpaid losses and loss adjustment expenses. However, because of the significant uncertainties surrounding reserves, it is possible that management’s estimate of the ultimate liabilities for these claims may change in the future and that the required adjustment to currently recorded reserves could be material to the Company’s results of operations or liquidity.

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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

Rollforward of Property and Casualty Insurance Product Liabilities for Unpaid Losses and LAE for the Year Ended December 31, 2024 

 Business InsurancePersonal InsuranceProperty & Casualty Other OperationsTotal Property & Casualty InsuranceBeginning liabilities for unpaid losses and loss adjustment expenses, gross$29,181 $2,068 $2,795 $34,044 Reinsurance and other recoverables4,599 28 2,069 6,696 Beginning liabilities for unpaid losses and loss adjustment expenses, net24,582 2,040 726 27,348 Provision for unpaid losses and loss adjustment expenses    Current accident year before catastrophes7,186 2,351 — 9,537 Current accident year ("CAY") catastrophes486 282 — 768 Prior accident year development ("PYD") (231)(108)219 (120)Total provision for unpaid losses and loss adjustment expenses7,441 2,525 219 10,185 Change in deferred gain on retroactive reinsurance included in the provision for the period but reflected in other liabilities145 — (62)83 Payments(5,400)(2,345)(195)(7,940)Foreign currency adjustment(25)— — (25)Ending liabilities for unpaid losses and loss adjustment expenses, net 26,743 2,220 688 29,651 Reinsurance and other recoverables4,637 20 2,096 6,753 Ending liabilities for unpaid losses and loss adjustment expenses, gross$31,380 $2,240 $2,784 $36,404 Earned premiums and fee income$12,764 $3,486 Loss and loss adjustment expense paid ratio [1]42.3 67.3 Loss and loss adjustment expense ratio58.5 73.1 Prior accident year development (pts) [2](1.8)(3.1)

[1]The “loss