Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1360

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1360
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|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Net Income  Year ended December 31, 2024 compared to the year ended December 31, 2023 Net income increased for the year ended December 31, 2024, primarily due to an increase in fee income net of operating costs and other expenses driven by higher daily average AUM.Hartford Funds AUM December 31, 2024 compared to December 31, 2023 Hartford Funds AUM increased primarily due to an increase in market values, partly offset by net outflows over the previous twelve months. Net outflows were $3.2 billion for the year ended December 31, 2024 compared to net outflows of $7.0 billion for the year ended December 31, 2023.2025 Outlook Assuming continued growth in equity markets in 2025, the Company expects net income for Hartford Funds to increase from 2024 to 2025.

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|Table of ContentsIndex to MD&APart II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

|CORPORATE - RESULTS OF OPERATIONS

Operating Summary

202420232022Increase (Decrease) From 2023 to 2024Increase (Decrease) From 2022 to 2023Fee income [1]$40 $39 $49 3 %(20 %)Net investment income [2]63 47 26 34 %81 %Net realized gains (losses) [2]42 26 (45)62 %NMOther revenue (loss)2 2 1 — %100 %Total revenues 147 114 31 29 %NMBenefits, losses and loss adjustment expenses [3]8 7 8 14 %(13 %)Insurance operating costs and other expenses [1]54 68 61 (21 %)11 %Interest expense [4]199 199 213 — %(7 %)Restructuring and other costs2 6 13 (67 %)(54 %)Total benefits, losses and expenses263 280 295 (6 %)(5 %)Loss before income taxes(116)(166)(264)30 %37 %Income tax benefit [5](44)(45)(69)2