Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 256

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 8
Chunk 256
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.Notes To Condensed Consolidated Financial Statements (continued)

10. Reserve for Future Policy BenefitsRollforward of Reserve for Future Policy BenefitsFor the three months ended March 31,20252024Payout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up LifePresent Value of Expected Net PremiumsBalance, beginning of the period$45 $49 Balance, ending of the period $43 $47 Present Value of Expected Future Policy BenefitsBeginning balance at single-A rate$128 $106 $168 $137 $113 $185 Beginning adjustment for changes in single-A rate— (15)(33)7 (11)(32)Beginning balance at original discount rate128 121 201 130 124 217 Effect of changes in cash flow assumptions— — — — — — Effect of actual variances from expected experience1 2 (1)1 1 — Adjusted beginning balance129 123 200 131 125 217 Interest accrual and other1 5 1 2 4 2 Benefit Payments(3)(10)(4)(3)(8)(7)Ending balance at original discount rate127 118 197 130 121 212 Ending adjustment for changes in single-A rate2 (14)(30)5 (12)(35)Ending balance at single-A rate$129 $104 $167 $135 $109 $177 Net reserve for future policy benefits$129 $61 $167 $135 $62 $177 Weighted-average duration of the reserve for future policy benefits (years)9.511.06.49.011.96.3 Net Reserve for Future Policy BenefitsAs of March 31,20252024Payout Annuities$129 $135 Life Conversions61 62 Paid-up Life167 177 Deferred Profit Liability16 20 Other76 85 Total$449 $479 Undiscounted Expected Future Gross Premiums and Benefit Payments As of March 31,20252024Payout Annuities [1]Expected future benefit payments$254 $255 Life ConversionsExpected future gross premiums$103 $111 Expected future benefit payments$194 $201 Paid-up Life [1]Expected future benefit payments$256 $274 [1]Payout Annuities