Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 256

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 256
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 2025. The HIG Holding Company expects to receive approximately $1.7 billion of net dividends after considering state deposit and regulatory capital requirements to support growth in certain entities, dividends that are expected to be subsequently contributed to P&C subsidiaries and dividends related to interest on intercompany notes. HLA has regulatory dividend capacity of $592 in 2025 with approximately $590 of dividends expected in 2025.There are no current restrictions on HIG Holding Company's ability to pay dividends to its stockholders. Restricted Net AssetsAs of December 31, 2024, the Company's insurance subsidiaries had net assets of $15.1 billion, determined in accordance with U.S. GAAP, that were restricted from payment to the HIG Holding Company, without prior regulatory approval.

16. INCOME TAXES Income Tax ExpenseThe Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions, as applicable. Income before income taxes included income from domestic operations of $3,758, $3,042 and $2,260 for the years ended December 31, 2024, 2023 and 2022, and income (losses) from foreign operations of $91, $46 and $2 for the years ended December 31, 2024, 2023 and 2022. Income Tax Expense  For the years ended December 31, 202420232022Income tax expense (benefit)   Current - U.S. federal$783 $582 $550     Foreign2 — (1)Total current785 582 549 Deferred - U.S. federal(57)6 (124) Foreign10 (4)18 Total deferred(47)2 (106) Total income tax expense$738 $584 $443 Income Tax Rate Reconciliation For the years ended December 31, 202420232022Tax provision at U.S. federal statutory rate$808 $648 $474 Nontaxable net investment income(40)(41)(29)Other(30)(23)(2)Provision for income taxes $738 $584 $443 The current income tax receivable of $12 as of December 31, 2024 is included in other assets in the Consolidated Balance Sheets. The current income tax payable of $18 as of December 31, 2023, is included in other