Company: HIG-PG
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000874766-25-000084
Chunk: 162

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-07-28
Form: 10-Q
Item: Item 1
Chunk 162
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 Management's Discussion and Analysis of Financial Condition and Results of Operations

Reconciliation of Net Income to Underwriting Gain (Loss) Three Months Ended June 30,Six Months Ended June 30,2025202420252024Business InsuranceNet income$696 $540 $1,173 $1,113 Adjustments to reconcile net income to underwriting gain:Net investment income(449)(402)(886)(793)Net realized losses20 50 44 38 Other (income) expense1 1 2 3 Income tax expense176 130 298 259 Underwriting gain$444 $319 $631 $620 Personal InsuranceNet income (loss)$91 $(11)$96 $23 Adjustments to reconcile net income (loss) to underwriting loss:Net investment income(58)(50)(115)(100)Net realized losses4 8 6 7 Net servicing and other income(5)(6)(10)(10)Income tax expense (benefit)23 (4)23 4 Underwriting gain (loss) $55 $(63)$— $(76)P&C Other OperationsNet income$13 $11 $26 $19 Adjustments to reconcile net income to underwriting loss:Net investment income(19)(19)(37)(37)Net realized losses2 3 2 3 Income tax expense2 3 5 4 Underwriting loss$(2)$(2)$(4)$(11)

Written and Earned Premiums- Written premium represents the amount of premiums charged for policies issued, net of reinsurance, during a fiscal period. Premiums are considered earned and are included in the financial results on a pro rata basis over the policy period. Management believes that written premium is a performance measure that is useful to investors as it reflects current trends in the Company’s sale of property and casualty insurance products. Written and earned premium are recorded net of ceded reinsurance premium.Traditional life and disability insurance type products, such as those sold by Employee Benefits, collect premiums from policyholders in exchange for financial protection for the policyholder from a specified insurable loss, such as death or disability. These premiums together with net investment income earned are used to pay the contractual obligations under these insurance contracts. Two major factors, sales and persistency, impact premium growth. Sales can increase or decrease in a given year based on a number of factors, including but not limited