Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1058

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1058
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 rates.Environmental reserves prior accident year development in 2024 before NICO reinsurance of $36 was primarily due to higher severity on recently emerged accounts, higher environmental site cleanup and monitoring costs, and higher legal expenses.

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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

|EMPLOYEE BENEFITS - RESULTS OF OPERATIONS

Operating Summary

202420232022Increase (Decrease) From 2023 to 2024Increase (Decrease) From 2022 to 2023Premiums and other considerations$6,615 $6,515 $6,057 2 %8 %Net investment income [1]475 469 524 1 %(10 %)Net realized losses [1](24)(45)(122)47 %63 %Total revenues7,066 6,939 6,459 2 %7 %Benefits, losses and loss adjustment expenses4,681 4,683 4,517 — %4 %Amortization of DAC34 34 33 — %3 %Insurance operating costs and other expenses1,609 1,514 1,467 6 %3 %Amortization of other intangible assets40 40 40 — %— %Total benefits, losses and expenses6,364 6,271 6,057 1 %4 %Income before income taxes702 668 402 5 %66 % Income tax expense [2]141 133 75 6 %77 %Net income$561 $535 $327 5 %64 %

[1]For discussion of consolidated investment results, see MD&A - Investment Results.

[2]For discussion of income taxes, see Note 16 - Income Taxes of Notes to Consolidated Financial Statements.

Premiums and Other Considerations

202420232022Increase (Decrease) From 2023 to 2024Increase (Decrease) From 2022 to 2023Fully insured — ongoing premiums$6,392 $6,290 $5,858 2 %7 %Buyout premiums1 8 12 (88 %)(33 %)Fee income222 217 187 2 %16 %Total premiums and other considerations$6,615 $6,