Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1646

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1646
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 Operations

Underlying Loss and LAE Ratio Year ended December 31, 2024 compared to the year ended December 31, 2023Underlying Loss and LAE ratio was flat in 2024 as a higher general liability loss ratio was offset by lower net non-catastrophe property losses.Catastrophes and Unfavorable (Favorable) Prior Accident Year Development Year ended December 31, 2024 compared to the year ended December 31, 2023 Current accident year catastrophe losses for 2024 included losses from tornado, wind and hail events across several regions of the United States, as well as hurricanes and tropical storms primarily in the Southeast and South regions, and, to a lesser extent, winter storms mainly in the Pacific, Northeast and South regions.Current accident year catastrophe losses for 2023 included losses from tornado, wind and hail events across several regions of the United States, and losses from winter storms along the East and West coasts.Prior accident year development was net favorable for 2024 and included reserve decreases for workers' compensation, catastrophes, bond and professional liability, partially offset by reserve increases for general liability, automobile liability and assumed reinsurance. Also included is a benefit of $145 related to amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreement, refer to Note 10 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to the Consolidated Financial Statements.Prior accident year development was net favorable for 2023 and included reserve decreases for workers' compensation, catastrophes, bond and package business, partially offset by reserve increases for general liability, assumed reinsurance and automobile liability.2025 OutlookIn 2025, the Company expects written premium growth to arise from new business, including from expanding addressable markets and distribution, and increases in written pricing in nearly all lines of business. While we anticipate slight, pricing-related headwinds in workers’ compensation margins in 2025, we expect to generate earned pricing in excess of loss trends in the remainder of Business Insurance.

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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

| PERSONAL INSURANCE - RESULTS OF OPERATIONS

Underwriting Summary

202420232022Increase (Decrease) From 2023 to 2024Increase (Decrease) From 2022 to 2023Written premiums$3,598 $3,198