Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 122

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 122
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)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 and Paid-up Life have no expected future gross premiums.

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Table of ContentsNote 10 - Reserve for Future Policy BenefitsThe Hartford Insurance Group, Inc.Notes To Condensed Consolidated Financial Statements (continued)

Weighted-Average Interest RatesAs of March 31,20252024Payout AnnuitiesInterest accretion rate5.6 %5.6 %Current discount rate5.4 %5.1 %Life ConversionsInterest accretion rate4.3 %4.2 %Current discount rate5.5 %5.3 %Paid-up LifeInterest accretion rate2.9 %2.9 %Current discount rate5.1 %5.2 %

Gross premiums and interest accretion recognized on long-duration insurance policies for the three months ended March 31, 2025 and 2024 were immaterial.

11. Other Policyholder Funds and Benefits PayableOther policyholder funds and benefits payable of $611 and $633 as of March 31, 2025 and 2024 respectively, included universal life long-duration contacts of $202 and $218 as well as policyholder balances related to short-duration contracts of $409 and $415. The universal life long-duration contacts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.Universal Life Long Duration Contracts RollforwardFor the three months ended March 31,20252024Balance, beginning of the period$206 $223 Premiums Received3 3 Policy Charges(5)(5)Surrenders and Withdrawals(2)(1)