Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1788

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1788
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 reserves ceded to reinsurers is based on assumptions that are consistent with those used in establishing the gross reserves for amounts the Company owes to its claimants. The Company estimates its ceded reinsurance recoverables based on the terms of any applicable facultative and treaty reinsurance, including an estimate of how IBNR unpaid losses will ultimately be ceded under reinsurance agreements. Accordingly, the Company’s estimate of reinsurance recoverables is subject to similar risks and uncertainties as the estimate of the gross reserve for unpaid losses and loss adjustment expenses.Reinsurance Recoverables by Credit Quality IndicatorAs of December 31, 2024As of December 31, 2023P&CEmployee Benefits CorporateTotalP&CEmployee Benefits CorporateTotalAM Best Financial Strength RatingA++$2,271 $— $— $2,271 $2,398 $— $— $2,398 A+2,169 281 224 2,674 2,030 251 241 2,522 A829 1 — 830 810 1 — 811 A-622 4 — 626 653 5 — 658 B++2 — 2 4 2 — 3 5 Below B++22 — — 22 22 — — 22 Total Rated by AM Best5,915 286 226 6,427 5,915 257 244 6,416 Mandatory (Assigned) and Voluntary Risk Pools205 — — 205 208 — — 208 Captives402 — — 402 353 — — 353 Other not rated companies176 5 — 181 226 4 — 230 Gross Reinsurance Recoverables6,698 291 226 7,215 6,702 261 244 7,207 Allowance for uncollectible reinsurance(72)(1)(2)(75)(100)(1)(2)(103)Net Reinsurance Recoverables$6,626 $290 $224 $7,140 $6,602 $260 $242 $7,104 Balances are considered past due when amounts that have been billed are not collected within contractually stipulated time periods, generally 30, 60 or 90 days. To manage reinsurer credit risk, a re