Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1096

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1096
---
 Financial Condition and Results of Operations

Available For Sale Investments in Municipal Bonds

December 31, 2024December 31, 2023Amortized CostFair ValueWeighted Average Credit QualityAmortized CostFair ValueWeighted Average Credit QualityGeneral Obligation$1,033 $1,008 AA$807 $814 AAPre-refunded [1]86 87 AA+155 158 AA+RevenueTransportation1,134 1,084  A+ 1,325 1,298 A+Health Care864 789  A+ 974 902 A+Leasing [2]627 588  AA 761 732 AA-Education402 385  AA 527 520 AAWater & Sewer308 289  AA 362 347 AA+Power281 272  A 275 271 AHousing195 185 AA179 172 AASales Tax183 183  AA 231 237 AAOther461 434  AA- 611 588 A+Total Revenue4,455 4,209 AA-5,245 5,067 AA-Total Municipal$5,574 $5,304 AA-$6,207 $6,039 AA-

[1]Pre-refunded bonds are bonds for which an irrevocable trust containing sufficient U.S. treasury, agency, or other securities has been established to fund the remaining payments of principal and interest.

[2]Leasing revenue bonds are generally the obligations of a financing authority established by the municipality that leases facilities back to a municipality. The notes are typically secured by lease payments made by the municipality that is leasing the facilities financed by the issue. Lease payments may be subject to annual appropriation by the municipality or the municipality may be obligated to appropriate general tax revenues to make lease payments.

As of December 31, 2024, the largest issuer concentrations were the State of Illinois, the State of California, and the Metropolitan Transportation Authority, which each comprised less than 3% of the municipal bond portfolio and were primarily comprised of general obligation and revenue bonds. As of December 31, 2023, the largest issuer concentrations were the New York City Transitional Finance Authority, the State of Illinois, and the Metropolitan Transportation Authority, which each comprised less than 3% of the municipal bond portfolio and were primarily comprised of general obligation and revenue bonds. In