Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 172

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 1
Chunk 172
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, largely in response to increased business volume;•Higher technology costs, including increased investment;•An increase in doubtful accounts expense partly due to higher business volume;•Higher direct marketing costs in Personal Insurance; and•Higher commissions due to increased business volume and a slightly higher commission ratio in Employee Benefits due to mix of business.Income tax expense increased primarily due to an increase in income before tax. For further discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Investment Results

Composition of Invested AssetsJune 30, 2025December 31, 2024AmountPercentAmountPercentFixed maturities, AFS, at fair value$44,558 73.2 %$42,567 71.9 %FVO securities181 0.3 %308 0.5 %Equity securities, at fair value529 0.9 %603 1.0 %Mortgage loans (net of allowance for credit losses ("ACL") of $43 and $44)6,463 10.6 %6,396 10.8 %Limited partnerships and other alternative investments5,325 8.7 %5,042 8.5 %Other investments [1]198 0.3 %226 0.4 %Short-term investments3,649 6.0 %4,068 6.9 %Total investments$60,903 100.0 %$59,210 100.0 %

[1]Primarily consists of equity fund investments, overseas deposits, consolidated investment funds, and derivative instruments which are carried at fair value.

June 30, 2025 compared to December 31, 2024Total investments increased primarily due to an increase in fixed maturities, AFS, at fair value, partially offset by a decrease in short-term investments.Fixed maturities, AFS, at fair value increased primarily due to net additions of corporate bonds and high-quality ABS, partially offset by net reductions to tax-exempt municipal bonds. The increase was also due to higher valuations as a result of lower interest rates.Short-term investments decreased primarily due to reallocation into fixed maturities, AFS.

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

Net Investment Income Three Months Ended June 30,Six Months Ended June