Company: HIG-PG
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000874766-25-000052
Chunk: 14

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 2
Chunk 14
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24ChangeEarned premiums$5,835 $5,446 7 %Fee income346 333 4 %Net investment income656 593 11 %Net realized gains (losses)(49)28 NMOther revenues22 19 16 %Total revenues6,810 6,419 6 %Benefits, losses and loss adjustment expenses4,000 3,611 11 %Amortization of deferred policy acquisition costs607 545 11 %Insurance operating costs and other expenses1,352 1,283 5 %Interest expense50 50 — %Amortization of other intangible assets18 18 — %Restructuring and other costs— 1 (100)%Total benefits, losses and expenses6,027 5,508 9 %Income before income taxes783 911 (14 %)Income tax expense153 158 (3)%Net income630 753 (16 %)Preferred stock dividends5 5 — %Net income available to common stockholders$625 $748 (16)%

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Net income available to common stockholders decreased by $123, primarily driven by:•A lower P&C underwriting gain of $130, before tax, driven by higher CAY catastrophe losses, partially offset by the effect of earned premium growth, a lower underlying loss and LAE ratio in Personal Insurance and a higher level of favorable prior accident year reserve development; and•A $77, before tax, change to net realized losses in the 2025 period compared to net realized gains in the 2024 period.These decreases were partially offset by:•Higher net investment income of $63, before tax, primarily driven by a higher level of invested assets, reinvesting at higher interest rates, and greater income from limited partnerships and other alternative investments, partially offset by a lower yield on variable-rate securities; and•In Employee Benefits, a lower group life loss ratio, the effect of higher fully insured ongoing premiums, and a lower loss ratio on paid family and medical leave products, partially offset by a higher long-term disability ratio and a higher loss ratio on supplemental health products.For a discussion of the Company's operating results by segment, see MD&A - Reportable Segment And Corporate Operating Summaries.

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Table of ContentsIndex to MD&A Part I -