Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 252

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 252
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 period that will include more than one economic cycle.The Company's evaluation of the required LCL for the Talcott Guarantees considers the current economic environment as well as macroeconomic scenarios similar to the approach used to estimate the ACL for mortgage loans. See Note 5 - Investments. In 2022, the LCL decreased from $25 to $22 primarily reflecting a decrease in the estimated amount payable under guaranteed contracts. In 2023, the LCL decreased to $9 primarily due to an upgrade of Talcott's credit rating, as well as a decrease in the estimated amount payable under guaranteed contracts. During 2024, the LCL decreased to $7 primarily due to an improvement of Talcott's assumed liquidation rate, as well as a decrease in the estimated amount payable under guaranteed contracts. The Company has never experienced a loss on financial guarantees similar to the Talcott Guarantees and we believe the risk of loss is remote.

15. EQUITY Equity Repurchase ProgramIn July, 2024, the Board of Directors approved a share repurchase authorization for up to $3.3 billion effective from August 1, 2024 to December 31, 2026. As of December 31, 2024, the Company has $3.15 billion remaining for equity repurchases under this share repurchase program.The Hartford's $3.0 billion equity repurchase program authorized by its Board of Directors in August 2022, expired on December 31, 2024. The Hartford's previous $3.0 billion equity repurchase program authorized by its Board of Directors in December 2020 expired on December 31, 2022.During the year ended December 31, 2024, 2023, and 2022 the Company repurchased $1.5 billion (14.4 million shares), $1.4 billion (19.2 million shares) and $1.6 billion (22.3 million shares), respectively, of common stock under these repurchase programs. During the period from January 1, 2025 through February 20, 2025, the Company repurchased $248 (2.2 million shares) under the $3.3 billion repurchase program effective from August 1, 2024 to December 31, 2026. The timing of any repurchases of shares is dependent on several factors, including the market price of the Company's securities,