Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 160

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 160
---
 tornado, wind and hail events primarily in the South and Midwest regions.Current accident year catastrophe losses for the three months ended March 31, 2024 included losses from winter storms, mainly in the Northeast, Pacific and South regions, as well as tornado, wind and hail events in the Midwest, South and mid-Atlantic regions.Prior accident year development was net favorable for the three months ended March 31, 2025 and primarily included reserve decreases for workers' compensation. Also included is a benefit of $32 related to amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreement, refer to Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.Prior accident year development was net favorable for the three months ended March 31, 2024 and included reserve decreases for workers' compensation and uncollectible reinsurance, partially offset by reserve increases for general liability, assumed reinsurance and marine. Also included is a benefit of $24 related to amortization of the Navigators ADC deferred gain.

71

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

Personal Insurance - Results of Operations

Underwriting Summary

Three Months Ended March 31,20252024ChangeWritten premiums$913 $844 8 %Change in unearned premium reserve14 31 (55)%Earned premiums899 813 11 %Fee income8 8 — %Losses and loss adjustment expensesCurrent accident year before catastrophes563 575 (2)%Current accident year catastrophes [1]187 52 NMPrior accident year development [1](39)(7)NMTotal losses and loss adjustment expenses711 620 15 %Amortization of DAC68 60 13 %Insurance operating costs182 153 19 %Amortization of other intangible assets1 1 — %Underwriting loss(55)(13)NMNet investment income [2]57 50 14 %Net realized gains (losses) [2](2)1 NMNet servicing and other income (expense) [3]5 4 25 %Income before income taxes5 42 (88)% Income tax expense [4]— 8 (100)%Net income$5 $34 (85)%

[1]For additional information on