Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1382

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1382
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 31,20242023Basis point shift-100 +100-100+100Increase (decrease) in economic value, before tax $69 $(57)$64 $(50)The carrying value of assets related to supporting Employee Benefits, primarily long-term disability reserves, was $10.0 billion and $10.3 billion, as of December 31, 2024 and 2023, respectively, and included fixed maturities, commercial mortgage loans and short-term investments. The assets are monitored and managed within set duration guidelines and are evaluated on a daily basis, as well as annually, using scenario simulation techniques in compliance with regulatory requirements.Invested Assets not Supporting Group Life and Disability Reserves The following table provides an analysis showing the estimated before tax change in the fair value of the Company’s investments and related derivatives, excluding assets supporting group life and disability reserves which are included in the table above, assuming 100 basis point upward and downward parallel shifts in the yield curve as of December 31, 2024 and 2023. Certain financial instruments, such as limited partnerships and other alternative investments, have been omitted from the analysis as the interest rate sensitivity of these investments is generally lower and less predictable than fixed income investments.Interest Rate Sensitivity of Invested Assets (Excluding Those Supporting Employee Benefits Reserves)Change in Fair Value as of December 31,20242023Basis point shift-100 +100 -100+100Increase (decrease) in fair value, before tax $1,758 $(1,627)$1,590 $(1,466)The carrying value of fixed maturities, commercial mortgage loans and short-term investments, excluding those related to supporting Employee Benefits short and long-term disability reserves, was $43.3 billion and $39.8 billion as of December 31, 2024 and 2023, respectively.Long-term DebtA 100 basis point parallel decrease in the yield curve would result in an increase in the fair value of long-term debt by $397 and $444 as of December 31, 2024 and 2023, respectively. A 100 basis point parallel increase in the yield curve would result in a decrease in the fair value of long-term debt by $336 and $373 as of December 31, 2024 and 2023, respectively. Changes in the value of long-term debt as a result of changes in interest rates will not impact the carrying value in the Company's Consolidated Balance Sheets.