Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 293

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 8
Chunk 293
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 for older accident years. Lastly, reserves for extra contractual liability claims and other miscellaneous run-off lines were reduced in response to recent favorable loss activity.Professional liability reserves decreased modestly due to favorable development on D&O claims driven by the 2020 to 2022 accident years, partially offset by deterioration in older accident years.Bond reserves decreased due to favorable development on commercial and contract surety driven by accident years 2019 and prior.Assumed reinsurance reserves were increased due to higher reserve estimates in the Latin America surety and Latin America P&C businesses related to the 2020 to 2023 accident years.Automobile liability reserves - Business Insurance increased primarily due to adverse loss development within accident year 2022 driven by higher severity than estimated.Automobile liability reserves - Personal Insurance were decreased primarily in response to better than anticipated accident year 2023 claim severity for property damage liability. Catastrophes reserves were decreased primarily within Business Insurance driven by a reduction in reserves in accident years 2021 to 2022 related to favorable emergence related to various hail events, as well as favorable development in accident year 2022 related to Hurricane Ian.Other reserve re-estimates, net, included a decrease in reserves due to lower severity than expected on Personal 

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

Insurance automobile physical damage for accident year 2023, offset by an increase in reserves related to unfavorable development from participation in involuntary market pools. Settlement Agreement with Boy Scouts of AmericaOn February 14, 2022, the Company executed a final settlement agreement (the “Settlement”) with the Boy Scouts of America ("BSA"), the Local Councils, and the attorneys representing a majority of the alleged victims, pursuant to which The Hartford agreed to pay $787 for sexual molestation and sexual abuse claims associated with liability policies issued by various Hartford writing companies in the 1970s and early 1980s. In exchange for its payment, the Company receives a complete release of its policies issued to BSA and the Local Councils, as well as an injunction against further abuse claims involving BSA. All conditions precedent to the Settlement have been satisfied, including approval by the bankruptcy court and the district court, and on April 20, 2023, The Hartford paid the Settlement amount of $787. Certain objecting parties appealed the district court’s ruling. As to issues material to