Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 373

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 373
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 losses collected from the reinsurer to the estimated ultimate reinsurance recoveries.Net and Gross Survival RatiosNet and gross survival ratios are a measure of the quotient of the carried reserves divided by average annual payments (net of reinsurance and on a gross basis) and is an indication of the number of years that carried reserves would last (i.e., survive) if future annual payments were consistent with the calculated historical average.Since December 31, 2016, asbestos and environmental net reserves have been declining since all adverse development has been ceded to NICO, up to the limit of $1.5 billion, and the deferred gain on retroactive reinsurance has been recorded within other liabilities rather than in net loss and loss adjustment expense reserves. Recoveries from NICO will not be collected until the Company has cumulative loss payments of more than the attachment point of $1.7 billion, which was based on the carrying value of net reserves as of December 31, 2016.  Accordingly, the payment of losses without any current collection of recoveries from NICO has reduced the Company’s net loss reserves which decreases the net survival ratios such that, unadjusted, the net survival ratios would not be representative of the true number of years of average loss payments covered by the reserves. Therefore, the net survival ratios presented in the table below are calculated before considering the effect of the A&E ADC reinsurance agreement but net of other reinsurance in place. Net and Gross Survival RatiosAsbestosEnvironmentalOne year net survival ratio11.57.7Three year net survival ratio11.36.9One year gross survival ratio11.75.8Three year gross survival ratio11.46.4

Run-off A&E Paid and Incurred Losses and LAE Development 

AsbestosEnvironmentalTotal A&EPaid Losses & LAEIncurred Losses & LAEPaid Losses & LAEIncurred Losses & LAEPaid Losses & LAEIncurred Losses & LAE2024    Gross$159 $206 $75 $49 $234 $255 Ceded- other than NICO(39)(39)(26)(13)(65)(52)Net - Gross of ADC$120 $167 $49 $36 169 203 Ceded - NICO A&E ADC — (62)Net$169 $141 2023    Gross$171 $206 $24 $49 $195 $255 C