Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 595

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 595
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ization of actuarial loss$34 $29 $62 $5 $5 $7 Amortization of prior service credit— — — (7)(7)(7)Net actuarial gain (loss)(41)(142)89 7 (6)30 Prior service cost (credit)— — — — — — Total$(7)$(113)$151 $5 $(8)$30 Amounts in Accumulated Other Comprehensive Income (Loss), Before Tax, not yet Recognized as Components of Net Periodic Benefit Cost Pension BenefitsOther Postretirement BenefitsAs of December 31, 202420232022202420232022Net loss$(1,784)$(1,777)$(1,664)$(76)$(88)$(87)Prior service credit— — — 33 40 47 Total$(1,784)$(1,777)$(1,664)$(43)$(48)$(40)Actuarial net losses in AOCI that exceed 10% of the greater of the benefit obligation or the market-related value of plan assets are amortized to expense over the average future life expectancy of plan participants.Pension Plan AssetsInvestment Strategy and Target AllocationThe overall investment strategy of the U.S. Pension Plan is to produce total investment returns that provide sufficient funding for present and anticipated future benefit obligations within the constraints of a prudent level of portfolio risk and diversification. With respect to asset management, the oversight responsibility of the U.S. Pension Plan rests with The Hartford’s Pension Investment Committee composed of individuals whose responsibilities include establishing overall objectives and the setting of investment policy; selecting appropriate investment options and ranges; selecting qualified service providers such as investment managers and investment consultants; reviewing the asset allocation mix and asset allocation targets on a regular basis; and monitoring performance to determine whether or not the rate of return objectives are being met and that policy and guidelines are being followed. The Pension Investment Committee has adopted a de-risking glide path that reduces the target allocation to equity securities and limited partnerships and increases the allocation to fixed income securities over time in response to improvement in the funded status of the U.S. Pension Plan. The Company believes that the asset allocation decision will be the single most important factor determining the long-term performance of the U.S. Pension Plan.Target Asset Allocation Ranges Pension PlansOther Postretirement PlansMinimumMaximumMinimumMaximumEquity securities— %20 %—