Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1348

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1348
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 renewal written price increases were higher in 2024, with accelerating double-digit price increases in package business and automobile and moderating double-digit price increases in excess and surplus lines. Workers' compensation pricing was slightly positive and consistent with 2023.•In middle market, renewal written price increases were generally flat to 2023, with high single-digit to low double-digit price increases in most lines other than workers’ compensation, which was slightly positive. Property pricing has moderated from elevated levels in 2023 while automobile pricing has accelerated.•In global specialty, U.S. price increases were higher than prior year levels and we achieved mid single-digit renewal written price increases overall, with high single to low double-digit increases in marine, casualty and auto lines. D&O pricing continues to be negative, but to a lesser extent than the prior year.

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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

Underlying Loss and LAE Ratio Year ended December 31, 2024 compared to the year ended December 31, 2023Underlying Loss and LAE ratio was flat in 2024 as a higher general liability loss ratio was offset by lower net non-catastrophe property losses.Catastrophes and Unfavorable (Favorable) Prior Accident Year Development Year ended December 31, 2024 compared to the year ended December 31, 2023 Current accident year catastrophe losses for 2024 included losses from tornado, wind and hail events across several regions of the United States, as well as hurricanes and tropical storms primarily in the Southeast and South regions, and, to a lesser extent, winter storms mainly in the Pacific, Northeast and South regions.Current accident year catastrophe losses for 2023 included losses from tornado, wind and hail events across several regions of the United States, and losses from winter storms along the East and West coasts.Prior accident year development was net favorable for 2024 and included reserve decreases for workers' compensation, catastrophes, bond and professional liability, partially offset by reserve increases for general liability, automobile liability and assumed reinsurance. Also included is a benefit of $145 related to amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreement, refer to Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to the Consolidated Financial Statements.Prior accident year development was net favorable for 2023 and included reserve decreases