Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 142

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 1
Chunk 142
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[1]Payout Annuities and Paid-up Life have no expected future gross premiums.Weighted-Average Interest RatesAs of June 30,20252024Payout AnnuitiesInterest accretion rate5.6 %5.6 %Current discount rate5.4 %5.5 %Life ConversionsInterest accretion rate4.3 %4.2 %Current discount rate5.6 %5.5 %Paid-up LifeInterest accretion rate2.9 %2.9 %Current discount rate5.0 %5.4 %

Gross premiums and interest accretion recognized on long-duration insurance policies for the six months ended June 30, 2025 and 2024 were immaterial.

11. Other Policyholder Funds and Benefits PayableOther policyholder funds and benefits payable of $612 and $622 as of June 30, 2025 and 2024 respectively, included universal life long-duration contracts of $201 and $210 as well as policyholder balances related to short-duration contracts of $411 and $412. The universal life long-duration contracts presented in the table below were economically ceded to Prudential as part of the sale of the Company's former individual life business, which closed in 2013.Universal Life Long Duration Contracts RollforwardFor the six months ended June 30,20252024Balance, beginning of the period$206 $223 Premiums Received6 6 Policy Charges(9)(13)Surrenders and Withdrawals(3)(4)Benefit Payments(3)(6)Interest Credited4 4 Balance, end of the period$201 $210 Weighted-average crediting rate4.3 %4.2 %Net Amount at Risk [1]$791 $870 Cash Surrender Value$199 $209 [1]Net amount at risk is defined as the current death benefit in excess of the current account value as of the balance sheet date.

As of June 30, 2025 and 2024, universal life contracts of $199 and $$209, respectively, had crediting rates at their guaranteed minimums ranging from 4%-5%. 

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Table of ContentsNote 12 - Income TaxesThe Hartford Insurance Group, Inc.Notes To Condensed Consolidated Financial Statements (continued)

12. Income Taxes

Income Tax ExpenseIncome Tax Rate ReconciliationThree Months Ended June 30