Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 118

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1
Chunk 118
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active Reinsurance" discussion below.

39

Table of ContentsNote 9 - Reserve for Unpaid Losses and Loss Adjustment ExpensesThe Hartford Insurance Group, Inc.Notes To Condensed Consolidated Financial Statements (continued)

Unfavorable (Favorable) Prior Accident Year DevelopmentFor the three months ended March 31,20252024Workers’ compensation$(65)$(67)Workers’ compensation discount accretion12 12 General liability— 17 Marine— 7 Package business— — Commercial property(3)(3)Professional liability— (5)Bond— — Assumed reinsurance— 9 Commercial automobile liability— — Personal automobile liability(12)— Homeowners(18)— Net asbestos and environmental ("A&E") reserves— — Catastrophes— — Uncollectible reinsurance— — Other reserve re-estimates, net (4)(2)Prior accident year development before change in deferred gain(90)(32)Change in deferred gain on retroactive reinsurance included in other liabilities [1](32)(24)Total prior accident year development$(122)$(56)[1]The $32 and $24 change in deferred gain on retroactive reinsurance for the three months ended March 31, 2025 and 2024, respectively, is related to amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreement, refer to "Change in Deferred Gain on Retroactive Reinsurance" discussion below.Re-estimates of prior accident year reserves for the three months ended March 31, 2025Workers’ compensation reserves were decreased within the 2016 to 2020 accident years primarily in small business, driven by lower than previously estimated claim severity.Personal automobile liability reserves were decreased primarily within accident years 2020 to 2023 as a result of lower than expected severity.Homeowners reserves were decreased primarily due to favorable severity impacting accident year 2024.Other reserve re-estimates, net, were decreased due to lower than expected severity on Personal Insurance automobile physical damage for accident year 2024, partially offset by unfavorable development from participation in involuntary market pools.Re-estimates of prior accident year reserves for the three months ended March 31, 2024Workers’ compensation reserves were decreased within the 2016 to 2020 accident years primarily in small business, driven by lower than previously estimated claim severity. In addition, the 2020 accident year