Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1047

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1047
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 39 5 %5 %Losses and loss adjustment expensesCurrent accident year before catastrophes7,186 6,575 5,959 9 %10 %Current accident year catastrophes [1]486 436 441 11 %(1 %)Prior accident year development [1](231)(225)(231)(3 %)3 %Total losses and loss adjustment expenses7,441 6,786 6,169 10 %10 %Amortization of DAC1,993 1,779 1,563 12 %14 %Insurance operating costs1,973 1,837 1,788 7 %3 %Amortization of other intangible assets29 29 29 — %— %Dividends to policyholders39 39 29 — %34 %Underwriting gain1,289 1,212 1,032 6 %17 %Net investment income [2]1,714 1,532 1,415 12 %8 %Net realized losses [2](73)(156)(385)53 %59 %Other income (expense) [3](5)(1)(12)NM92 %Income before income taxes2,925 2,587 2,050 13 %26 % Income tax expense [4]576 502 426 15 %18 %Net income$2,349 $2,085 $1,624 13 %28 %

[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 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Consolidated Financial Statements.

[2]For discussion of consolidated investment results, see MD&A - Investment Results.

[3]Includes integration costs in connection with the 2019 acquisition of Navigators Group.

[4]For discussion of income taxes, see Note 16 - Income Taxes of Notes to Consolidated Financial Statements.

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|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Premium Measures

202420232022Small Business:Net new business premium$1,101 $915 $768