Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 234

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 8
Chunk 234
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 on individual mortgage loans. The ACL is established for any shortfall between the amortized cost of the loan and the fair value of the collateral less costs to sell. Estimates of collectibility from an individual borrower require the use of significant management judgment and include the probability and timing of borrower default and loss severity estimates. In addition, cash flow projections may change based upon new information about the borrower's ability to pay and/or the value of underlying collateral such as changes in projected property value estimates. During the period in which all or a portion of the mortgage loan is determined to be uncollectible, the ACL is written off against the amortized cost. There were no mortgage loans held-for-sale as of March 31, 2025 or December 31, 2024. In addition, for the three months ended March 31, 2025 and 2024, the Company had no mortgage loans that have had extensions or restructurings other than what is allowable under the original terms of the contract or with borrowers experiencing financial difficulties. The one mortgage loan extension that was granted over the past twelve months to a borrower that was experiencing financial difficulties is current and performing in conjunction with the modified terms.ACL on Mortgage LoansThree Months Ended March 31,20252024ACL as of beginning of period$44 $51 Current period provision (release)— (3)Current period gross write-offs(1)— ACL as of March 31,$43 $48 The weighted-average LTV ratio of the Company’s mortgage loan portfolio was 56% as of March 31, 2025, while the weighted-average LTV ratio at origination of these loans was 59%. LTV ratios compare the loan amount to the value of the underlying property collateralizing the loan with property values based on appraisals updated no less than annually. Factors considered in estimating property values include, among other things, actual and expected property cash flows, geographic market data and the ratio of the property's net operating income to its value. DSCR compares a property’s net operating income to the borrower’s principal and interest payments and are updated no less than annually through reviews of underlying properties.Mortgage Loans LTV & DSCR by Origination Year as of March 31, 2025202520242023202220212020 & PriorTotalLoan-to-valueAmortized CostAvg. DSCRAmortized CostAvg. DSCRAmortized CostAvg. DSCRAmortized CostAvg. DSCRAmortized CostAvg.