Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1106

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1106
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 secure FHLBB advances in 2025. For further information regarding the Company's collateralized advances with Federal Home Loan Bank of Boston, see Note 13 - Debt of Notes to Consolidated Financial Statements. Lloyd's Letter of Credit FacilityThe Hartford has a committed credit facility agreement with a syndicate of lenders (the "Lloyd's Facility"). On October 21, 2024, The Hartford amended and restated its Lloyd's Facility agreement. The amended and restated Lloyd's Facility has two tranches with one tranche extending a $74 commitment and the other tranche extending a £79 million ($99 as of December 31, 2024) commitment. As of December 31, 2024, letters of credit with an aggregate face amount of $74 and £79 million, or $99, were outstanding under the Lloyd's Facility.Among other covenants, the Lloyd's Facility contains financial covenants regarding The Hartford's consolidated net worth and financial leverage. As of December 31, 2024, The Hartford was in compliance with all financial covenants of the facility. For further information regarding the Lloyd's Facility, see Note 13 - Debt of Notes to Consolidated Financial Statements.|PENSION PLANS AND OTHER POSTRETIREMENT BENEFITSWhile the Company has significant discretion in making voluntary contributions to the U.S. qualified defined benefit pension plan, minimum contributions are mandated in certain circumstances pursuant to the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006, the Worker, Retiree, and Employer Recovery Act of 2008, the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010, the Moving Ahead for Progress in the 21st Century Act of 2012 (MAP-21) and Internal Revenue Code regulations. The Company did not make any contributions to the U.S. qualified defined benefit pension plan in 2024, 2023 and 2022. In 2023, the Company funded $3 to a rabbi trust that is designated for other defined benefit pension plans and contributed $1 to the Canadian Pension Plan. There were no plan contributions in 2024 or 2022 for other defined benefit pension plans. The Company made direct benefit payments of $6, $5 and $5 on behalf of the other postretirement plans in 2024, 2023 and 2022, respectively. No other contributions were made to the other postretirement plans