Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 156

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 156
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)$7 $(32)Change in deferred gain on retroactive reinsurance included in other liabilities [1](24)— — (24)Total prior accident year development$(56)$(7)$7 $(56)

[1]The $24 change in deferred gain on retroactive reinsurance for the three months ended March 31, 2024, related to amortization of the Navigators ADC deferred gain under retroactive reinsurance accounting. 

For discussion of the factors contributing to unfavorable (favorable) prior accident year reserve development for 2024, please refer to Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements. 

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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

Reportable Segment And Corporate Operating Summaries

Business Insurance - Results of Operations

Underwriting Summary

Three Months Ended March 31,20252024ChangeWritten premiums$3,686 $3,362 10 %Change in unearned premium reserve362 314 15 %Earned premiums3,324 3,048 9 %Fee income11 11 — %Losses and loss adjustment expensesCurrent accident year before catastrophes1,891 1,725 10 %Current accident year catastrophes [1]280 109 157 %Prior accident year development [1](83)(56)(48)%Total losses and loss adjustment expenses2,088 1,778 17 %Amortization of DAC531 476 12 %Insurance operating costs512 487 5 %Amortization of other intangible assets7 7 — %Dividends to policyholders10 10 — %Underwriting gain187 301 (38)%Net investment income [2]437 391 12 %Net realized gains (losses) [2](24)12 NMOther expense [3](1)(2)50 % Income before income taxes599 702 (15)% Income tax expense [4]122 129 (5)%Net income$477 $573 (17)%

[1]For additional information on current accident year catastrophes and prior accident year development, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves Development, Net of Reinsurance and Note 9 - Reserve for