Company: HIG-PG
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000874766-25-000107
Chunk: 35

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-10-27
Form: 10-Q
Item: Item 2
Chunk 35
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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 Income Three and nine months ended September 30, 2025 compared to 2024 Net income for the three and nine month periods increased primarily due to a higher underwriting gain and higher net investment income. For further discussion of investment results, see MD&A - Investment Results.Underwriting GainThree and nine months ended September 30, 2025 compared to 2024 Underwriting gain for the three and nine month periods  increased due to the effect of earned premium growth, higher favorable prior accident year development, and for the three month period, lower CAY catastrophe losses. These favorable impacts were partially offset by a higher underlying loss and LAE ratio, and for the nine month period, higher CAY catastrophe losses.Expense ratio for the three months ended September 30, 2025 increased primarily due to higher staffing costs, including higher incentive compensation and benefits costs, and technology spend, partially offset by the impact of higher earned premium. The expense ratio for the nine months ended September 30, 2025 decreased primarily due to the impact of higher earned premium, partially offset by higher staffing costs, including higher incentive compensation and benefits costs, and technology spend.

77

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

 Earned Premiums[1]Other earned premiums of $14 and $16 for the three months ended September 30, 2024, and 2025, respectively and $43 and $48, for the nine months ended September 30, 2024 and 2025, respectively. Written Premiums[1]Other written premiums of $14 and $16 for the three months ended September 30, 2024, and 2025, respectively and $42 and $48, for the nine months ended September 30, 2024 and 2025, respectively.Three and nine months ended September 30, 2025 compared to 2024 Earned premiums for the three and nine months ended September 30, 2025 increased due to written premium increases over the prior twelve months.Written premiums for the three and nine months ended September 30, 2025 increased driven by growth across small business, middle & large business and global specialty.•Small business written premium increased driven by strong new business as well as renewal written