Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 93

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 93
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) Three Months Ended March 31,(Before tax)20252024Gross gains on sales of fixed maturities$13 $5 Gross losses on sales of fixed maturities(25)(11)Equity securities [1]Net realized gains (losses) on sales of equity securities— (12)Change in net unrealized gains (losses) of equity securities(11)47 Net realized and unrealized gains (losses) on equity securities(11)35 Net credit losses on fixed maturities, AFS2 (1)Change in ACL on mortgage loans— 3 Other, net [2](28)(3)Net realized gains (losses)$(49)$28 [1]The change in net unrealized gains (losses) on equity securities still held as of the end of the period and included in net realized gains (losses) were $(11) and $36 for the three months ended March 31, 2025, and 2024, respectively.[2] The three months ended March 31, 2025, and 2024 includes gains (losses) from transactional foreign currency revaluation of $(10) and $2, respectively, and gains (losses) on non-qualifying derivatives of $0 and $(2), respectively.Proceeds from the sales of fixed maturities, AFS totaled $1.0 billion and $0.4 billion for the three months ended March 31, 2025 and 2024, respectively. There were no non-cash investing activities for both the three months ended March 31, 2025 and 2024.Accrued Investment Income on Fixed Maturities, AFS and Mortgage LoansAs of March 31, 2025 and December 31, 2024, the Company reported accrued investment income related to fixed maturities, AFS of $426 and $412, respectively, and accrued investment income related to mortgage loans of $23 and $22, respectively. These amounts are not included in the carrying value of the fixed maturities or mortgage loans. Investment income on fixed maturities and mortgage loans is accrued unless it is past due over 90 days or management deems the interest uncollectible. The Company does not include the current accrued investment income balance when estimating the ACL. The Company has a policy to write-off accrued investment income balances that are more than 90 days past due.