Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 186

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 186
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 by the full faith and credit of the U.S. government.

89

Table of ContentsIndex to MD&A Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The Company also has exposure to commercial mortgage loans. These loans are collateralized by real estate properties that are diversified both geographically throughout the United States and by property type. These commercial loans are originated by the Company as high quality whole loans, and the Company may sell participation interests in one or more loans to third parties. A loan participation interest represents a pro-rata share in interest and principal payments generated by the participated loan, and the relationship between the Company as loan originator, lead participant and servicer and the third party as a participant are governed by a participation agreement.As of March 31, 2025, mortgage loans had an amortized cost of $6.4 billion and carrying value of $6.4 billion, with an ACL of $43. As of December 31, 2024, mortgage loans had an amortized cost of $6.4 billion and carrying value of $6.4 billion, with an ACL of $44.The Company funded $94 of commercial mortgage loans, primarily industrial and multifamily properties, with a weighted average loan-to-value (“LTV”) ratio of 54% and a weighted average yield of 7.0% during the three months ended March 31, 2025. The Company continues to originate commercial mortgage loans on institutional-quality properties with strong LTV ratios. There were no mortgage loans held for sale as of March 31, 2025, or December 31, 2024.

Municipal Bonds

Available-For-Sale Investments in Municipal Bonds March 31, 2025December 31, 2024 Amortized CostFair ValueWeighted Average Credit QualityAmortized CostFair ValueWeighted Average Credit QualityGeneral Obligation$1,005 $977 AA$1,033 $1,008 AAPre-refunded [1]84 86 AA+86 87 AA+RevenueTransportation1,119 1,055  A+ 1,134 1,084 A+Health Care830 752  A+ 864 789 A+Leasing [2]610 568  AA 627 588 AAEducation379 359  AA 402 385 AAWater & Sewer302 277  AA