Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 15

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 2
Chunk 15
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10 — %Net income available to common stockholders$990 $733 35 %$1,615 $1,481 9 %

Three months ended June 30, 2025 compared to the three months ended June 30, 2024

Net income available to common stockholders increased by $257, primarily driven by:•An increase in P&C underwriting gain of $243, before tax, driven by the effect of earned premium growth, a higher level of net favorable prior accident year reserve development, a lower underlying loss and LAE ratio in Personal Insurance and lower CAY catastrophe losses, partially offset by a higher underlying loss and LAE ratio in Business Insurance;•Higher net investment income of $62, before tax, primarily driven by the impact of higher invested assets and reinvesting at higher interest rates, partially offset by a lower yield on variable-rate securities; and•Lower net realized losses of $49, before tax.These increases were partially offset by:•In Employee Benefits, the impact of a higher expense ratio, including higher technology costs and staffing costs, and a higher loss ratio on long-term and short-term disability, partially offset by a lower group life loss ratio.For a discussion of the Company's operating results by segment, see MD&A - Reportable Segment And Corporate Operating Summaries.

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Table of ContentsIndex to MD&A Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

RevenueEarned PremiumsEarned premiums increased by $383 or 7%, primarily due to:•An increase in P&C reflecting a 10% increase in both Business Insurance and Personal Insurance.–Contributing to the increase in Business Insurance was the effect of an increase in new business across most lines of business and earned pricing increases. –For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by non-renewals.•Employee Benefits earned premium was essentially flat, as an increase in exposure on existing accounts was offset by lower fully insured ongoing sales.Fee income increased primarily due to a $3 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve month period.Net Investment Income[1]Limited partnerships and other alternative investments of $16 and $13 for the three months ended June 30, 2024 and 2025 respectively.Net investment income increased primarily due to the impact of higher invested assets and reinvesting