Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 358

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 8
Chunk 358
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2025 compared to 2024Underlying loss and LAE ratio decreased in both automobile and homeowners in both the three and nine month periods. The decrease in automobile was primarily due to the impact of earned pricing increases, partially offset by higher loss costs. The higher loss costs in automobile were driven by higher physical damage and liability claim severities, partially offset by lower physical damage claim frequency. The automobile claim severity trend has moderated from the prior year. The automobile liability severity trend continues to recognize the inflationary effects and higher attorney representation rates on bodily injury claims. For homeowners, the decrease in the underlying loss and LAE ratio was primarily due to the impact of earned pricing increases, partially offset by higher claim severities. Contributing to the higher homeowners severity was the effect of higher rebuilding costs.Current Accident Year Catastrophes and Unfavorable (Favorable) Prior Accident Year DevelopmentThree and nine months ended September 30, 2025 compared to 2024Current accident year catastrophe losses decreased in the three month period and increased in the nine month period. CAY catastrophe losses for the three months ended September 30, 2025 included losses from tornado, wind and hail events across several regions, but concentrated in the Mountain West, Midwest and South regions. CAY catastrophe losses for the nine months ended September 30, 2025 included losses from tornado, wind and hail events across several regions, but concentrated in the South and Midwest regions, as well as a loss of $109 from the January 2025 California Wildfire Event.CAY catastrophe losses for the three months ended September 30, 2024 included losses from hurricanes and tropical storms, primarily in the Southeast region, including a loss of $49 for Hurricane Helene, and to a lesser extent, tornado, wind and hail events, mainly in the Midwest, Mountain West, and Northeast regions. CAY catastrophe losses for the nine months ended September 30, 2024 included losses from tornado, wind and hail events in several regions of the United States, and to a lesser extent, from hurricanes and tropical storms primarily in the Southeast region.Prior accident year development was favorable for both the three and nine month periods, primarily driven by lower estimated severity on automobile liability, homeowners, automobile physical damage, and, for the nine month period, catastrophes. Prior accident year development was favorable for the three and nine months ended September 30, 2024, primarily driven by lower estimated severity on automobile physical damage and homeowners, and for the nine month period, automobile