Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 18

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 2
Chunk 18
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 higher income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities;These increases were partially offset by:•Higher net realized losses of $27, before tax; and•In Employee Benefits, the impact of a higher expense ratio, including higher staffing costs and technology costs, and a higher long-term disability loss ratio, partially offset by a lower group life loss ratio, a lower loss ratio on the paid family and medical leave product, and the impact of slightly higher fully insured ongoing premiums.For a discussion of the Company's operating results by segment, see MD&A - Reportable Segment And Corporate Operating Summaries.

Revenue

Earned PremiumsEarned premiums increased by $1,131, or 7%, primarily due to:•An increase in P&C reflecting a 9% increase in both Business Insurance and Personal Insurance.–Contributing to the increase in Business Insurance was the effect of an increase in new business across most lines of business and earned pricing increases.–For Personal Insurance, earned premium increased primarily due to the effect of earned pricing increases, partially offset by a decline in policies in-force.•A slight increase in Employee Benefits earned premium of 1%, including an increase in exposure on existing accounts and persistency in excess of 90%.Fee income increased, primarily due to a $27 increase in Hartford Funds driven by higher daily average assets resulting from an increase in equity market levels, partially offset by net outflows over the preceding twelve-month period.Net Investment Income[1]Limited partnerships and other alternative investments of $69 and $143 for the nine months ended September 30, 2024 and 2025, respectively.Net investment income increased due to the impact of a higher level of invested assets, reinvesting at higher interest rates, and higher income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities.

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Table of ContentsIndex to MD&A Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Net realized losses increased primarily due to:•Lower appreciation in value of equity securities in the 2025 period compared to the 2024 period;•Impairment of a real estate joint venture in the 2025 period;•Gains on interest rate derivatives in the 2024 period; and•Greater depreciation in value of fixed maturities, at fair value using the fair value option (“FVO securities”) in the 2025 period due to changes in credit spreads.These increases were partially offset