Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1495

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1495
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forward of Liabilities for Unpaid Losses and Loss Adjustment Expenses For the years ended December 31, 202420232022Beginning liabilities for unpaid losses and loss adjustment expenses, gross$34,044 $33,083 $31,449 Reinsurance and other recoverables6,696 6,465 6,081 Beginning liabilities for unpaid losses and loss adjustment expenses, net27,348 26,618 25,368 Provision for unpaid losses and loss adjustment expenses   Current accident year10,305 9,538 8,577 Prior accident year development [1](120)10 36 Total provision for unpaid losses and loss adjustment expenses10,185 9,548 8,613 Change in deferred gain on retroactive reinsurance included in other liabilities [1]83 (194)(229)Payments   Current accident year(2,765)(2,716)(2,424)Prior accident years(5,175)(5,926)(4,678)Total payments(7,940)(8,642)(7,102)Foreign currency adjustment(25)18 (32)Ending liabilities for unpaid losses and loss adjustment expenses, net29,651 27,348 26,618 Reinsurance and other recoverables6,753 6,696 6,465 Ending liabilities for unpaid losses and loss adjustment expenses, gross$36,404 $34,044 $33,083 [1] Prior accident year development for the year ended December 31, 2024 includes a $145 benefit for amortization of a deferred gain under retroactive reinsurance accounting related to the Navigator's ADC as the Company began collecting recoveries of the ceded losses from National Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway Inc, during the period. Prior accident year development does not include the benefit of a portion of losses ceded under the A&E ADC, which, under retroactive reinsurance accounting, is deferred and is recognized over the period the ceded losses are recovered in cash from NICO. For additional information regarding the two adverse development cover reinsurance agreements, refer to Adverse Development Covers discussion below.Property and Casualty Insurance Products Reserves, Net of Reinsurance, that are DiscountedFor the years ended December 31,202420232022Liability for unpaid losses and loss adjustment expenses, at undiscounted amounts$1,184 $1,255 $1,